The Deal Behind the Miss Universe Stake Sale

In a bid to deal with its ongoing financial struggles, JKN Global Group Plc, a renowned local media company, has decided to offload a 50% stake in its Miss Universe business. The stake, valued at US$16 million (570 million baht), will be purchased by Legacy Holding Group USA Inc.

The group, which is under the control of Mexican businessman Raul Rocha Cantu, will acquire the shares through JKN Legacy Inc, the entity owning the copyright to the beauty pageant. Rocha, who also possesses the copyright for Miss Universe Mexico, has a controlling stake in Legacy Holding.

Despite the sale, JKN Global will continue to own the remaining 50% stake in JKN Legacy. This ensures that the company retains control over the holder of the Miss Universe copyright, as confirmed by the Thai company.

JKN Global’s decision to sell part of its stake in the Miss Universe business comes at a time when the…