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IMG Sells The Miss Universe Organization to Thailand-Based Media Company JKN
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Rhea-AI Summary
Endeavor Group Holdings has sold The Miss Universe Organization (MUO) to Thailand's JKN Global Media. Since joining Endeavor in 2015, MUO has expanded its global reach, now broadcasting the MISS UNIVERSE competition in 165 countries. The event is the most-watched female-focused competition worldwide, with over 23 million followers on social media. MUO's leadership will remain unchanged, continuing to foster growth in collaboration with JKN, which aims to evolve the brand for future generations.
Positive
The sale of MUO to JKN Global Media could open up new growth opportunities in the Asian market.
The MISS UNIVERSE competition has a broad audience, being broadcast in 165 countries and attracting significant social media engagement.
Negative
None.
NEW YORK--(BUSINESS WIRE)--
IMG, an Endeavor company and global leader in events, media, sports and fashion, today announced it has sold The Miss Universe Organization (MUO), the global organization overseeing the annual MISS UNIVERSE competition, to Thailand-based JKN Global Media Public Company Limited.
Since joining the IMG family in 2015, the organization and its global reach have grown tremendously. Today, the MISS UNIVERSE competition is broadcast in 165 countries and is the most-watched female-focused event in the world. The event is also one of the most tweeted about events annually, and its social media channels have more than 23 million followers combined.
Amy Emmerich and Paula Shugart will continue with the organization as CEO and President, respectively.
“We are proud of our team’s success growing and expanding the Miss Universe Organization by utilizing the power of the Endeavor network, drawing on expertise across talent, digital, content, partnerships and licensing,” said Mark Shapiro, President, Endeavor. “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.”
“We look forward to this next chapter in the Miss Universe story,” remarked Amy Emmerich, CEO, MUO. “In the short time I’ve been with the organization, I’ve seen firsthand the passion of our employees, franchisees, and partners, as well as our incredible community. Paula and I see tremendous opportunity with JKN to create further growth for this organization on the global stage and women around the world. Despite having recently celebrated the organization’s legacy of more than 70 years, we are just getting started.”
“We are incredibly honored to be acquiring The Miss Universe Organization and working with its visionary leadership team,” said Anne Jakapong Jakrajutatip, CEO, JKN Global Group. “The global reach of the Organization, its relationships with global partners and brands, and its wealth of content, licensing, and merchandising opportunities make this a strong, strategic addition to our portfolio. We seek not only to continue its legacy of providing a platform to passionate individuals from diverse backgrounds, cultures, and traditions, but also to evolve the brand for the next generation.”
The Raine Group acted as exclusive financial advisor to IMG on the transaction. Latham & Watkins LLP acted as legal advisor to IMG.
About IMG
IMG is a global leader in sports, fashion, events and media. The company manages some of the world’s greatest athletes and fashion icons; owns and operates hundreds of live events annually; and is a leading independent producer and distributor of sports and entertainment media. IMG also specializes in licensing, sports training and league development. IMG is a subsidiary of Endeavor (NYSE: EDR), a global sports and entertainment company.
About The Miss Universe Organization The Miss Universe Organization (MUO) exists to advocate for a future forged by women and good for all. It is a global community that supports women to realize their goals through experiences that build self-confidence and create opportunities for success. MISS UNIVERSE® programs provide the 10,000 women who participate annually an international platform to affect positive change through influential humanitarian and professional efforts. The delegates and titleholders are leaders and role models in their communities; they develop personal and professional goals, and inspire others to do the same. To learn more, visit www.missuniverse.com.
About JKN Global Media Public Company Limited
JKN Global Group Public Company Limited and its subsidiaries are a group of companies that engage in the business of providing services and distributing copyrighted content that has received huge ratings on various television stations and created phenomenal success by taking the company into the Stock Exchange of Thailand under the name JKN. Our name stands for Jakapong Network, which is the name of our Chief Executive Officer and Managing Director Jakapong Jakrajutatip. JKN Global Group Public Company Limited also sells goods and products as well as commercial time through JKN18 digital TV channel. Our goal is to become a major content commerce company.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that do not relate to matters of historical fact should be considered forward-looking statements. These forward-looking statements are based on management’s current expectations, are neither promises nor guarantees and involve known and unknown risks, uncertainties and other important factors that may cause actual results to materially differ from what is expressed or implied by the forward-looking statements, including, but not limited to the factors discussed in Part I, Item 1A “Risk Factors” in Endeavor’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, as any such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC’s website at www.sec.gov and Endeavor’s Investor Relations site at investor.endeavorco.com. Forward-looking statements speak only as of the date they are made and, except as may be required under applicable law, Endeavor undertakes no obligation to update or revise any forward-looking statements.
Website Disclosure
Investors and others should note that we announce material financial and operational information to our investors using press releases, SEC filings and public conference calls webcasts, as well as our Investor Relations site at investor.endeavorco.com. Endeavor may also use its website as a distribution channel of material Company information. In addition, you may automatically receive email alerts and other information about Endeavor when you enroll your email address by visiting the “Investor Email Alerts” option under the Resources tab on investor.endeavorco.com.
