Mark Shapiro, chief content officer at the entertainment company, said that WME/IMG has previous experience working closely with the organization on licensing deals, so it realizes the events’ “incredible potential” as well as the “star-quality” of those who participate. The organization is responsible for producing the Miss Universe, Miss U.S.A., and Miss Teen U.S.A. pageants.

Shapiro added: “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.” Recent additions to the company’s portfolio include the Professional Bull Riders sports league and 13 fashion weeks worldwide, including New York Fashion Week.

This announcement comes just days after Trump announced that he had bought NBC’s half of the organization. The network cut ties with him over the summer following the GOP candidate’s remarks about Mexican immigrants.