Endeavor’s IMG has sold the Miss Universe Organization, the company overseeing the Miss Universe competition, to Thailand-based JKN Global Media Public Company Limited.

The pageant in its current form exists from 1952. Donald Trump owned the rights from 1996 in a broadcast partnership initially with CBS and then with NBC. In 2015, the organization was sold to IMG. Since becoming a part of IMG, the pageant’s global reach has expanded and it is now broadcast in 165 countries.

Mark Shapiro, president, Endeavor, said: “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. 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.”

A financial value for the deal was not disclosed. Amy Emmerich and Paula Shugart will continue with the organization as CEO and president, respectively.

Emmerich said: “We look forward to this next chapter in the Miss Universe story. 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.”

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 on various television stations.

Anne Jakapong Jakrajutatip, CEO, JKN Global Group, said: “We are incredibly honored to be acquiring The Miss Universe Organization and working with its visionary leadership team. 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.

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