Wednesday, 16 September 2015

Breaking News: WME/IMG Acquires Miss Universe Organization from Donald Trump

Photo Credit: Misossology
After a few days of sole ownership of the Miss Universe Organization by Donald Trump, he sells off his full stakes to the WME/IMG talent agency who has been bidding for the ownership for a while now since NBC Universal cut ties with Trump and refuse to air the Miss USA 2015 due to the racist comments made by Donald at his presidential announcement about Mexicans.

WME | IMG is the global leader in entertainment, sports, events, media and fashion. Operating in more than 25 countries, the company specializes in talent representation and management; brand strategy, activation and licensing; media production and distribution; and event management.
“IMG had already worked with Miss Universe on licensing deals in the past. The pageants are a natural fit with IMG’s focus on owning event franchises that yield big media rights and sponsorship deals. The company earlier this year bought the Professional Bull Riders sports league for the same strategic rationale,” Variety added.

In a statement, a WME/IMG executive conveyed enthusiasm about its new acquisition.
“Having worked closely with The Miss Universe Organization in the past, we understand the incredible potential of the events and the star-quality of the participants. The global reach of The Miss Universe Organization and the content opportunities presented by the pageants make this a strong, strategic addition to our portfolio.”
Trump also issued a statement about the 100 percent sale of the Miss Universe Organization.
“I have truly enjoyed owning the Miss Universe, Miss USA, and Miss Teen USA pageants. When I purchased the pageants many years ago, they were in serious trouble. It has been a great honor making them so successful and I have really enjoyed watching the pageants grow throughout the USA and worldwide. The pageants are now in the hands of a great company that will shepherd them to even greater levels of success.”
According to Forbes, offloading the pageant venture may have been a good deal for all parties concerned, provided the new owner finds a TV outlet.
“It’s easy to imagine that NBC let the pageant go for a reasonable price: The Miss Universe and Miss USA telecasts typically perform reasonably well, but they’ve never been the bread and butter for the network. Miss USA ratings have been on a downward trend since 2005. Though it will likely be easier without Trump attached, WME/IMG now carries the daunting challenge of finding a broadcaster for the pageants, which could prove particularly difficult given the recent controversy surrounding them.”
Donald Trump’s financial disclosure required of a presidential candidate “indicated that the joint venture was worth between 45 million and $25 million. [The] Miss Universe Organization generated $3.4 million in income for Trump in 2014,” CNN Money explained.

Source: Inquisitr

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