JKN Global Group Public Company Limited (SET: JKN) announced in the board of directors no. 4/2022 held on June 27, 2022 to approve the negotiation in connection with the acquisition of Miss Universe Organization from IMG Worldwide, LLC (a subsidiary) of Endeavor Group Holdings, Inc. with the transaction aggregate value USD20,000,000 which is equivalent to up to THB800,000,000.
On October 25, 2022, the company stated that it had fully paid the purchase price according to the share sale and purchase agreement.
The acquisition of Miss Universe Organization will result in the company owning all shares in 5 LLC entities incorporated under the laws of Delaware, USA consisting of (1) IMG Universe, LLC (2) IMG Universe FranchCo, LLC, (3) Miss USA BR Productions, LLC, (4) MUO Productions, LLC and (5) Miss USA Productions OH, LLC.
Under these five entities, the company will acquire the copyright to the Miss Universe pageant, including publishing, and other supporting businesses.
JKN stated that Miss Universe Organization (MUO) is a legendary organization. Having a reputation and good image of the world for more than 71 years, JKN will benefit from the awareness of international branding, which can be combined with the group of company’s products to grow rapidly and widespread worldwide including creating opportunities to expand global distribution channels and it can strengthen and promote the success of the action plan to become a Top Global Content Commerce Company.
The company stated that it planned to generate income from various channels, namely 1) franchise fee 2) hosting fee 3) production fee 4) sponsorship fee 5) merchandising and licensing fee 6) broadcast fee 7) program & format fee 8) talent management fee and 9) ticket sales.
Furthermore, it can also be a soft power to build a reputation for Thailand to be known and outstanding around the world.