BANGKOK, Thailand (CelebrityAccess) — JKN Global Group Public Company Limited, a Thai-owned media company, announced it has acquired the venerable Miss Universe Organization from the Endeavor subsidiary IMG Worldwide.
The $20 million dollar deal comes as JKN Global seeks to expand its portfolio of broadcast and entertainment properties to reach broader, international audiences, the company said.
Led by CEO Amy Emmerich and President Paula, The MUO stages the Miss Universe competition, with an estimated audience of over 165 countries worldwide and seen by more than half a billion people annually, according to JKN Group. The pageant is regarded as one of the Big Four pageants, alongside Miss World, Miss International, and Miss Earth.
Following the acquisition, JKN announced launch of MU Lifestyle: a new licensing and merchandising arm of The Miss Universe Organization which will combine the MU brand and JKN’s lifestyle portfolio to create a new range of merchandise, as well as entertainment and various business opportunities.
The company also stated that it plans to expand the brand’s footprint in “untapped markets” throughout Asia.
Anne Jakapong Jakrajutatip, Chief Executive Officer of JKN Global Group, said: “We are incredibly honored to be acquiring The Miss Universe Organization and working with its visionary leadership team. The global reach of the Organization, its relationships with global partners and brands, and its wealth of content, licensing, and merchandising opportunities make this a strong, strategic addition to our portfolio. We seek not only to continue its legacy of providing a platform to passionate individuals from diverse backgrounds, cultures, and traditions, but also to evolve the brand for the next generation.”
