SET-listed JKN Global Group, a content distribution and service provider, has reached a deal to acquire the Miss Universe beauty pageant business and secure a licence agreement for the show for an investment of up to US$20 million (760 million baht).
Miss Universe Organization (MUO), which runs the annual international beauty pageant, is to be acquired from IMG Worldwide LLC, which is wholly owned by US-based Endeavor Group Holdings. IMG Worldwide LLC holds the Miss Universe business licence.
JKN plans to invest up to $14 million for the acquisition and $6 million for the licence agreement.
Jakkaphong Jakrajutatip, chief executive of JKN Global Media, said the firm set up JKN Metaverse in the US to receive shares of the five companies under MUO. The five firms are: IMG Universe LLC, IMG Universe FranchCo LLC, Miss USA BR Production LLC, MUO Productions LLC, and Miss USA Productions OH LLC.
After the transactions are completed, IMG Universe LLC will change its name to JKN Universe LLC, while IMG Universe FranchCo LLC will change its name to JKN Universe FranchCo LLC, said Ms Jakkaphong.
She said MUO has a long history, with 71 years in the beauty pageant business and an audience of more than 500 million viewers around the globe.
Some 94 countries have acquired licensing rights to organise beauty contests domestically so they can send representatives to participate in the Miss Universe competition, said Ms Jakkaphong. She said the acquisition of MUO allows JKN management of the licensing and broadcasting rights granted to countries that want to hold Miss Universe pageants.
The Miss Universe brand can also help strengthen the firm's commerce business, which includes dietary supplements, drinks, skincare products and cosmetics, and other lifestyle items, said Ms Jakkaphong.
"The acquisition of MUO and the licensing rights of the globally-renowned Miss Universe is part of JKN's strategy to propel the company's growth," she said. "The move will also enhance the firm's image as a global content commerce company."
Miss Universe is considered one of the big four in the global beauty pageant business, along with Miss World, Miss International and Miss Earth. The opening price of JKN shares rose to 4.08 baht in the morning session yesterday, up from 3.80 baht Tuesday evening.
