Thai media tycoon buys Miss Universe Organization for $20 million
What's the story
In an unexpected development, a Thai celebrity media tycoon and transgender rights advocate Jakapong "Anne" Jakrajutatip has bought the Miss Universe Organization for $20 million. Jakrajutatip is the first woman owner of the beauty pageant organization, her company, JKN Global Group Pcl said on Wednesday, making the deal official. At 71 years, Miss Universe is one of the longest-running competitions in the world.
Context
Why does this story matter?
Her company, JKN produces its own shows and distributes the content across Thailand. The company also brings in content from abroad, including documentaries and Bollywood dramas. On Wednesday, right after the news of the company's acquisition of Miss Universe Organization surfaced online, its shares jumped nearly 10% in early trade. So, it looks like the deal is proving to be a profitable venture.
Post
Jakrajutatip shared the news on Instagram
Jakrajutatip took to Instagram and shared a photo of the universe captioning it, "Bring yourself into the positive Harmony of the UNIVERSE and allow the 100% good energy into your life from now on." She stated that "the acquisition is a strong, strategic addition to our portfolio," adding that Miss Universe, with all the business opportunities, plans to expand in Asia.
Information
All you need to know about Jakrajutatip
Jakrajutatip is the CEO and biggest shareholder of JKN Global Group Pcl. She has also starred in Thailand's version of reality shows Project Runway and Shark Tank. Jakrajutatip has never shied away from speaking about her experience as a transgender woman. To support the rights and dignity of transgender people, she also set up an organization called Life Inspired For Thailand Foundation.
History
Donald Trump previously co-owned the organization
The Miss Universe Organization runs beauty contests annually. It was previously co-owned by former US President and real estate tycoon Donald Trump between 1996 and 1992. The pageant's proceedings are popular with contestants participating from across the world every year. It is broadcast in as many as 165 countries and has been running for more than seven decades.