Donald Trump was recently criticized after not correcting a supporters comment on President Obama's heritage. (Photo : Reuters)
WME/IMG has purchased The Miss Universe Organization for an unrevealed amount from Donald Trump.
The Miss Universe pageant is broadcasted annually in more than 190 countries and watched by more than half a billion viewers annually.
The deal comes just days after Trump announced on Twitter that he had bought out NBC's 51 percent share of The Miss Universe Organization, which the NBC had co-owned with Trump since 2002.
Trump said he had settled all legal disputes with the broadcast company which is a unit of Comcast Corp. NBC Universal owned the Miss Universe, Miss USA, and Miss Teen USA pageants.
"Just purchased NBC's half of The Miss Universe Organization and settled all lawsuits against them. Now own 100% -- stay tuned, "tweeted Trump on Sept. 11, Friday
Following contentious comments Trump made about Mexican immigrants during a campaign speech, NBC Universal had ended its business relationship with Trump in June.
According to the Market Watch NBC Universal stated that it would no longer telecast the Miss Universe and Miss USA pageants. Spanish-language broadcaster Univision also ended its business relationship with Trump after the controversy.
Talent and marketing agency WME/IMG was formed in 2013 by the merger of talent agencies William Morris Endeavor Entertainment and IMG Worldwide. This deal expands their portfolio of global events and media properties.
IMG has served as executive producers of the Miss Universe and Miss USA pageants in the past. WME/IMG is looking for a TV partner for the pageants at this stage Forbes reported. WME/IMG made the announcement on Twitter on Monday morning.
"WME | IMG has acquired The Miss Universe Organization, which includes MISS UNIVERSE, MISS USA, and MISS TEEN USA, "tweeted WME/IMGon Sept.14, 2015, Monday.
"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," said WME/IMG Chief Content Officer Mark Shapiro.
"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," added Shapiro.
Reportedly The Miss Universe Organization has a worth between $5 million and $25 million.
"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," Trump said in a statement.
'It has been a great honor making them so successful. The pageants are now in the hands of a great company that will shepherd them to even greater levels of success," added Trump.
