IMG has sold the Miss Universe Organization (MUO), which oversees the annual pageant, to the company of Anne Jakapong Jakrajutatip, a transgender Thai business magnate. It is the first time in the organization’s 71-year history that a woman has owned it.
The Associated Press reports that Jakrajutatip’s media group in Thailand, JKN Global Media Public Company Limited, purchased MUO for $20 million.
The businesswoman, who is also a reality TV star in Thailand, described the Miss Universe Organization as a “strong, strategic addition” to her company’s portfolio.
Jakrajutatip stated in a statement announcing the acquisition, “We are incredibly honored to acquire The Miss Universe Organization and to work with its visionary leadership team.” “We aim not only to continue its legacy of providing a platform for passionate individuals from diverse backgrounds, cultures, and traditions, but also to evolve the brand for future generations.”
Amy Emmerich and Paula Shugart, the current CEO and president of the MUO, will continue to hold those positions under the new management, according to the statement.
Emmerich stated that both executives are excited to build upon the Miss Universe organization with this new acquisition.
“Paula and I see tremendous opportunity with JKN to create further growth for this organization on the global stage and women around the world,” Emmerich said in the statement. Despite recently commemorating the organization’s more than 70-year history, we are just getting started.
Both IMG and JKN Global Media have emphasized the importance of global partnerships, which can help create an environment that is inclusive of all individuals.
“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,” said Mark Shapiro, president of Endeavor — the parent company of IMG.
Jakrajutatip is a supporter of transgender rights and a co-founder of the nonprofit Life Inspired for Transsexual Foundation.
Prior to its sale to IMG in 2015, the MUO was co-owned by former President Donald Trump from 1996 to 2015.
The organization held its first ever Miss Universe pageant in 1952, which now airs annually in 165 countries, according to IMG. IMG referred to the competition as “the most-watched female-centric event in the world” in a news release.
In 2018, Angela Ponce of Spain became the first openly transgender person to compete in the Miss Universe contest.