Thai businesswoman buys Miss Universe pageant for $20 million
Reuters
Published Oct 26, 2022 04:39AM ET
Updated Oct 27, 2022 10:33AM ET
BANGKOK (Reuters) - A Thai celebrity media tycoon and transgender rights advocate has bought the Miss Universe Organization for $20 million, marking the first time the beauty pageant organiser will be owned by a woman, her company said on Wednesday.
Jakapong "Anne" Jakrajutatip, CEO and biggest shareholder of JKN Global Group Pcl (JKN), is a celebrity in Thailand, starring in local versions of reality shows Project Runway and Shark Tank.
She has been outspoken about her experience as a transgender woman and also set up the Life Inspired For Thailand Foundation to advocate for the rights to dignity and opportunities for transgender people.
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 broadcast in 165 countries and has been running for 71 years.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.