JKN Global Group Plc (JKN)

Editorial team

JKN has acquired Miss Universe Organization for less than US$14 million

JKN Global Group Plc (JKN), one of Thailand’s leading content distributors and TV channel operators, has bought Miss Universe Organization (MUO) for less than US$14 million (550 million baht) and hope to cash in on its brand copyright to drive the company’s business expansion.

Jakkaphong Jakrajutatip, JKN’s chief executive officer and managing director, said the company has reached an agreement to acquire the MUO from Endeavor Group Holdings, which held a 100% stake in IMG Worldwide, LLC as the license holder of Miss Universe. The US$14 million payment is from the company’s working capital.

In addition, JKN has established JKN Metaverse, Inc, in the US, its wholly-owned subsidiary. It is to operate the transaction procedure for the MOU share transfer, with five companies under the group, including IMG Universe, LLC. , IMG Universe FranchCo, LLC., Miss USA BR Production LLC., MUO Productions, LLC. and Miss USA Productions OH, LLC. After completing the entire business transfer, IMG Universe, LLC and IMG Universe FranchCo will be renamed JKN Universe and JKN Universe FranchCo, LLC respectively.

MUO is a 71-year-old global organization and its Miss Universe pageant is accepted worldwide, with more than 500 million people watching the event. Also, there are countries to buy its pageant right to launch their own competition for beauty queen winners to join the Miss Universe competition.

Beyond financial benefits from ownership of brand copyright, Mr Jakkaphong plans to utilize the Miss Universe brand to further a development of the current products under JKN Group which include supplementary products, drinks and personal care products. He intends to sell them in countries, considered as a growth driver of JKN and building its corporate image to become a global commerce company.