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IMG sold the Miss Universe Organization (MUO), which oversees the annual pageant, to Thai transgender business tycoon An Jakapong Jakrajuthatip. She is the first woman to own the company in its 71-year history.
Thailand-based Jakrajuthatip media group JKN Global Media Public Company Limited has bought MUO for $20 million, the Associated Press reported.
The businesswoman, who became a reality TV star in Thailand, said she was excited to continue the legacy of the Miss Universe Organization, calling it a “strong and strategic addition to our portfolio.”
“We are incredibly honored to acquire The Miss Universe Organization and work with its visionary leadership team,” Jakrajuthatip said in a statement announcing the acquisition. “We want to not only continue the legacy of giving a platform to passionate individuals from different backgrounds, cultures and traditions, but also grow the brand for the next generation.”
MUO’s current CEO and president Amy Emmerich and Paula Shugart will continue in those roles under the new administration, the statement said.
Emmerich said both executives look forward to building the Miss Universe organization with this new acquisition.
“Paula and I see a great opportunity with JKN to further advance this organization on the international stage and for women around the world,” Emmerich said in a statement. Although we will soon celebrate the legacy of the organization that is more than 70 years old, we are just getting started.
Both IMG and JKN Global Media emphasized the importance of global partnerships to help create an inclusive environment.
“We are equally proud of the organization’s progress in becoming a more inclusive and powerful platform where women can advance both their business goals and their cause-based work,” said Mark Shapiro, president of Endeavor – IMG’s parent company.
In addition to her business ventures, Jakrajuthatip is an advocate for transgender rights, and helped found the non-profit Life Inspired Foundation for Transsexuals.
MUO was previously owned by former President Donald Trump from 1996 to 2015 before being sold to IMG.
The organization first held the Miss Universe pageant in 1952, and the pageant is now held annually in 165 countries, IMG reports. In a press release, IMG called the race “the most watched women-focused event in the world.”
Spain’s Angela Pons made history in 2018. First openly transgender person To compete in the Miss Universe pageant.
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