A transgender Thai entrepreneur paid $20 million to acquire the Miss Universe competition.
On Wednesday, JKN Global Group announced that its CEO and largest shareholder, Jakapong “Anne” Jakrajutatip, had closed a deal with IMG Worldwide.
Jakrajutatip, a transgender rights advocate and celebrity media mogul, made headlines when she bought the beauty pageant company from its previous male owner.
“It is a great honor for us to buy The Miss Universe Organization and collaborate with its visionary leadership team.” Jakrajutatip was quoted as saying in a statement that was released on Wednesday.
This is a great strategic acquisition because the organization has a global reach, works with global partners and brands, and has a lot of content, licensing, and merchandising opportunities.
She went on to say that the company’s goal is to “evolve the brand for the next generation” while also carrying on the company’s tradition of giving “a platform to passionate individuals from diverse backgrounds, cultures, and traditions.”
The Thai billionaire has been open about her transition, and she started the Life Inspired For Thailand Foundation to help transgender people get equal rights.
The JKN Global Group, a distributor of both Thai and foreign films and television series, views the acquisition as “a soft power to boost Thailand’s status as a world-class nation.”
IMG bought the 71-year-old beauty pageant from its previous owners, who included Donald Trump, between 1996 and 2002.
In January of 2023, the city of New Orleans, Louisiana, will host the 71st annual Miss Universe pageant. There are 165 countries that will be able to tune in.
