Endeavor’s IMG sells Miss Universe organization to Thai-based JKN for undisclosed sum

Sports and modeling agency IMG, a unit of entertainment giant Endeavor Group Holdings Inc. EDR, +0.74%, said Wednesday it has sold the Miss Universe organization to Thai-based JKN Global Media Public Co. Ltd. No terms were disclosed. The organization runs the annual Miss Universe competition, which is broadcast in 165 countries. Amy Emmerich will remain CEO of the company, while Paula Shugart will remain as president. Endeavor is parent to William Morris Agency and mixed-martial-arts organization UFC, among many other properties. Shares were not yet active premarket, but are down 38% in the year to date, while the S&P 500 SPX, -0.57% has fallen 19%.