Jakapong “Anne” Jakrajutatip, CEO and biggest shareholder of JKN Global Group, is a celebrity in Thailand, starring in local versions of reality shows “Project Runway” and “Shark Tank”.

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 yesterday.

Jakrajutatip 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 from Endeavor’s IMG is “a strong, strategic addition to our portfolio,” she said, adding that Miss Universe, with its content, licensing and merchandising opportunities, plans to expand in Asia.

“I hope this will serve as soft power for Thailand and bring more tourists to our country.”

In a Facebook post, Jakrajutatip thanked fans of the pageant for their love and support. “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,” she said.

The annual beauty contest run by the Miss Universe Organization, which was co-owned by Donald Trump between 1996 and 2002, is broadcast in 165 countries and has been running for 71 years. The next pageant is scheduled for the US city of New Orleans in January.

Miss Universe Organization chief executive Amy Emmerich and president Paula Shugart will stay on in their roles.