Thai Media Company Sells Half of Miss Universe Stake to Mexican Company for $16 Million
In a recent announcement to the Bangkok stock market, the Thai media company that owns Miss Universe has revealed that it has sold half of its stake in the long-running beauty pageant to a Mexican company for $16 million.
This sale comes two months after JKN Global Group, which purchased the pageant in 2022, filed for bankruptcy. The deal with Mexico’s Legacy Holding group is expected to “build the brand’s international profile and allow for new product and marketing opportunities,” according to a statement from the Miss Universe Organization.
JKN Global, owned by media mogul and transgender rights campaigner Anne Jakapong Jakrajutatip, had acquired the pageant from former US president Donald Trump in 2022 for $20 million. However, the company ran into financial troubles when it missed a deadline to repay bonds worth around $12 million and filed for bankruptcy in November to address its “liquidity problem.”
The most recent winner of the Miss Universe pageant was Nicaraguan Sheynnis Palacios, who became the first woman from Central America to claim the title. Her victory sparked large celebrations in Nicaragua, marking a significant moment for the country.
The sale of the stake in Miss Universe to the Mexican company reflects a significant development for the iconic beauty pageant, as it looks to expand its international reach and capitalize on new opportunities in the market.
