Yahoo Movies Endeavor Sells Miss Universe Pageant To Thailand’s JKN Global Media
Endeavor’s IMG global events group has sold The Miss Universe Organization to Thailand-based JKN Global Media.
Financial details weren’t disclosed but JKN CEO Anne Jakapong Jakrajutatip told local press the price tag was $14 million.
More from Deadline
The organization that oversees the annual Miss Universe competition has been part of IMG since 2015. Broadcast in 165 countries, it’s the most-watched female-focused event in the world and one of the most tweeted about events annually with over 23 million followers for its social media channel. The group also includes the Miss USA and Miss Teen USA pageants. It was owned by former President Donald Trump between 1996 and 2015.
Amy Emmerich and Paula Shugart will continue with the organization as, respectively, CEO and president.
“We are proud of our team’s success growing and expanding the Miss Universe Organization by utilizing the power of the Endeavor network, drawing on expertise across talent, digital, content, partnerships and licensing,” said Endeavor president Mark Shapiro. “We’re equally proud of the progress the organization has made in becoming a more inclusive and powerful platform where women can advance both their business objectives and their cause-based work.”
Endeavor has been shedding assets that it considers non-strategic or slower growing to expand in its core businesses.
CEO Emmerich said “Paula and I see tremendous opportunity with JKN to create further growth for this organization on the global stage and women around the world. Despite having recently celebrated the organization’s legacy of more than 70 years, we are just getting started.”
Anne Jakapong Jakrajutatip, CEO, JKN Global Group cited global reach, partners, brands, and content, licensing and merchandising opportunities the deal provides. “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.”
The Raine Group acted as exclusive financial advisor to IMG on the transaction. Latham & Watkins LLP acted as legal advisor to IMG.
Best of Deadline
Sign up for Deadline's Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.
