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Endeavor’s IMG world occasions group has bought The Miss Universe Group to Thailand-based JKN International Media.
Monetary particulars weren’t disclosed however JKN CEO Anne Jakapong Jakrajutatip informed native press the worth tag was $14 million.
The group that oversees the annual Miss Universe competitors has been a part of IMG since 2015. Broadcast in 165 international locations, it’s the most-watched female-focused occasion on this planet and one of the crucial tweeted about occasions yearly with over 23 million followers for its social media channel. The group additionally consists of 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 proceed with the group as, respectively, CEO and president.
“We’re happy with our crew’s success rising and increasing the Miss Universe Group by using the facility of the Endeavor community, drawing on experience throughout expertise, digital, content material, partnerships and licensing,” mentioned Endeavor president Mark Shapiro. “We’re equally happy with the progress the group has made in changing into a extra inclusive and highly effective platform the place girls can advance each their enterprise goals and their cause-based work.”
Endeavor has been shedding property that it considers non-strategic or slower rising to broaden in its core companies.
CEO Emmerich mentioned “Paula and I see great alternative with JKN to create additional progress for this group on the worldwide stage and girls world wide. Regardless of having not too long ago celebrated the group’s legacy of greater than 70 years, we’re simply getting began.”
Anne Jakapong Jakrajutatip, CEO, JKN International Group cited world attain, companions, manufacturers, and content material, licensing and merchandising alternatives the deal supplies. “We search not solely to proceed its legacy of offering a platform to passionate people from various backgrounds, cultures, and traditions, but additionally to evolve the model for the subsequent era.”
The Raine Group acted as unique monetary advisor to IMG on the transaction. Latham & Watkins LLP acted as authorized advisor to IMG.
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