Metro Manila (CNN Philippines, October 26) — Thai-owned media and content conglomerate JKN Global Group announced on Wednesday it fully acquired the Miss Universe Organization (MUO) with business mogul Anne Jakapong Jakrajutatip now at the helm of the prestigious beauty pageant.
Jakrajutatip, a Thai transgender woman who serves as JKN’s chief executive officer, is the new MUO owner after her company bought it from IMG Worldwide for $20 million (roughly ₱1.17 billion).
IMG first acquired the Miss Universe Organization from the group of former US President Donald Trump in 2015.
JKN, in a media release posted on its website, said it expects to generate income through merchandising and licensing fee, broadcasting fee, and ticket sales, among others. It added it sees that the transaction can help the company “be a soft power to build a reputation for Thailand to be known and outstanding around the world.”
The organization will stage the 71st Miss Universe pageant in January 2023 in New Orleans, Louisiana where the Philippines’ bet, Celeste Cortesi, will compete for the country’s possible fifth crown.
