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Miss Universe is now co-owned by Mexico-based Legacy Holding after JKN sells 50% share
Legacy Holding Group, a Mexico-based company, is now a co-owner of Miss Universe after JKN Group sold 50% of its stake in the franchise.
According to a report by Nikkei Asia, the transaction is worth $16 million (around P900 million) and is expected to be completed in September.
On Instagram, JKN Global Group owner Anne Jakrajutatip said she's been working closely on the partnership with LHG owner Raul Rocha since the Miss Universe 2022 pageant in New Orleans.
"Miss Universe and JKN Global Group are excited to announce a new partnership with the Mexico-based Legacy Holdings for the Miss Universe brand," she said.
"This is a strategic investment for growth that will enhance our international offerings and allow us to create new products and opportunities that uplift, empower, and inspire women to embrace their truest selves," she added.
This development comes after JKN Global petitioned for an extension of its debt repayment period and adjustments of interest rates last year.
JKN Global Group acquired Miss Universe in 2022 for $20 million or P1.13 billion. The company also owns Miss USA and Miss Teen USA.
The latest Miss Universe pageant was held in El Salvador on November 18, 2023. Sheynnis Palacios of Nicaragua was crowned as the Miss Universe 2023.
Meanwhile, Philippine bet Michelle Dee finished in the Top 10. She won four special awards, including Best National Costume.
—Jade Veronique Yap/MGP, GMA Integrated News
