The pageant organization is now the biggest rights-holder in the region.
In its disclosure to the Stock Exchange of Thailand (SET) on Tuesday, May 5, Miss Grand International’s parent company announced that its Board of Directors approved last April 30 the agreement to acquire the rights to manage and operate five national franchises of the Miss Universe pageant in Southeast Asia.
According to the company, they now hold the licenses in Vietnam, Indonesia, Malaysia, Singapore, and Laos.
“Under this agreement, the Company has acquired exclusive rights to manage and operate the Miss Universe License in all five countries mentioned above,” MGI noted.
These rights include the right to manage, plan, and conduct the national-level pageant; the right to organize activities and projects related to the pageant; the right to commercially develop and manage brand-related projects; and the right to appoint one national-level partner or operator (sublicense) per country.
MGI said it this transaction does not fall under the “category of significant acquisition or disposal of assets,” according to the criteria of the Stock Exchange of Thailand, and it “does not have a significant impact on the company’s current financial position and performance.”
“However, obtaining this right will enhance the company’s potential for rapid expansion and revenue growth in the region and support long-term business growth opportunities,” it added.
Furthermore, “The terms and conditions of this transaction are subject to the agreement between the parties, and the company is obligated to maintain confidentiality; therefore, further details cannot be disclosed.”