Thailand's JKN sells 50% share in Miss Universe for $16m

Sale to Mexican billionaire helps company resolve bankruptcy woes

APORNRATH PHOONPHONGPHIPHAT, Nikkei staff writer

BANGKOK -- Thailand-based JKN Global Group, the media company that currently runs the Miss Universe Organization, announced on Tuesday that it has sold 50% of its ownership of the pageant to Mexico-based Legacy Holding Group for $16 million.

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