A Thai media mogul and transgender rights campaigner has bought the firm that runs Miss Universe pageants for $20 million, according to a company announcement.
Jakapong “Anne” Jakrajutatip, CEO and biggest shareholder of JKN Global Group Pcl (JKN) (JKN.BK), is a celebrity in Thailand, starring in local versions of reality shows Project Runway and Shark Tank.
The acquisition is “a strong, strategic addition to our portfolio,” said Jakapong
She founded the Life Inspired For Thailand Foundation to promote the rights to dignity and opportunities for transgender persons, and she has been outspoken about her experience as a transgender woman.
The acquisition is “a strong, strategic addition to our portfolio,” said Jakapong, adding that Miss Universe, with its content, licensing, and merchandising opportunities, plans to expand in Asia.
JKN produces its own shows and distributes content in Thailand from abroad including documentaries and Bollywood dramas. Its shares jumped nearly 10% in early trade on Wednesday.
The annual beauty contest run by the Miss Universe Organisation, which was co-owned by Donald Trump between 1996 and 2002, is broadcasted in 165 countries and has been running for 71 years.