Pre-heat the grill to medium-high.
In a small saucepot over a low flame, heat Merkts cheese. Set aside and keep warm.
Place a medium size skillet over medium heat, add olive oil. Add onion and cook down until tender, about 5-7 minutes. Add port wine, vinegar, brown sugar and season with salt and lots of black pepper. Let simmer gently until liquid is almost evaporated and mixture is a jam-like consistency. Set aside and keep warm.
Place a skewer halfway through the corn and grill until the kernels begin to char evenly. When the corn comes off the grill, slather with Merkts, spoon on a strip of Port Wine Onion Jam, and sprinkle with the chopped bacon.