Bid launched to keep ‘Miss World’ British

Press, 9 February 1983, Page 9

Bid launched to keep ‘Miss World’ British

NZPA LondonOrganisers of the "Miss World" beauty contest said yesterday that they planned to float shares on the London Stock Exchange to help keep the contest in Britain. Eric Morley, chairman of the “Miss World” beauty organisation. said that the company would sell up to 48 per cent of voting shares to help block take-over bids from the United States. “ ‘Miss World' is a special British institution which brings an enormous amount of good will to this country.

“But there is an almighty interest in the company. There are so many people in America who want to buy it," he said. The Mecca Entertainments organisation launched the contest in 1951. Mr Morley, a former Mecca chairman, took over the contest with a consortium of backers in 1980 and bought the whole company on Friday. He blocked bids for the "Miss World” contest under an agreement with Mecca allowing him to match any offer for the company. Mr Morley and his wife, Julia, bought full control of

the company last week under 1 that agreement when hismain backers decided to self’ their two-thirds stake to a--Los Angeles consortium. The company, which alsoruns “Miss England." "MissT Scotland." “Miss Wales." and? "Miss United Kingdom" com? tests, saw its profits jump to L 170.000 (about $360,000). last year from nothing iip 1980. : Brokers handling the share? issue said that they expected--' the 1983 profits to be higher? because the company had., signed three-year contracts; with at least 12 sponsors! Thev expected to put the£ shares on sale in two months.-.