Miss Universe Brand Owner Sells 50% Stake to Mexican Businessman

Thai media company JKN Global Group Pcl will sell a 50% stake in the owner of the Miss Universe brand for $16 million, a bid to strengthen the beauty pageant’s business.

JKN Global will sell shares of the pageant owner, JKN Legacy Inc., to Legacy Holding Group USA Inc., the company said in exchange filing Tuesday. Mexican businessman Raul Rocha Cantu owns Legacy Holding and holds the Miss Universe Mexico copyright, according to a separate press statement.

JKN Global will still hold a remaining 50% stake in JKN Legacy and retain control over the owner of the Miss Universe copyright, ...