When rivals unite: the unexpected alliance shaking up Miss Universe

Bankruptcy, backlash, and a bold new partnership: inside the Miss Universe Organization’s most dramatic transformation in decades.

A new era began for the Miss Universe Organization (MUO) when Thai-owned media conglomerate JKN Global Group acquired the 71-year-old pageant from the International Management Group (IMG).

“We are incredibly honored to be acquiring the Miss Universe Organization and working with its visionary leadership team,” said Anne Jakkaphong Jakrajutatip, JKN CEO and co-owner. “The organization’s global reach and partnerships make this a strong, strategic addition to our portfolio.”

To expand the brand, JKN launched MU Lifestyle, a line of branded merchandise, and announced plans to grow Miss Universe’s presence across Asia.

A legacy in transition

Miss Universe executives Amy Emmerich and Paula Shugart welcomed JKN’s entry, expressing optimism about the brand’s future. “Our global partnerships have never been stronger,” they said in a joint statement.

But after two decades at the helm, Shugart stepped down as MUO president. “Miss Universe has never been about one woman—it’s about our community,” she said. “Because of them, the brand remains strong and will continue to thrive.”

Her resignation came as JKN faced financial turbulence. The company filed for bankruptcy amid what it described as a “liquidity problem,” following a missed US$12 million bond repayment. Still, JKN assured that operations would continue under a court-approved rehabilitation plan.

The rift and the rebuild

By 2024, tensions within MUO’s leadership became public when Shugart revealed she was considering legal action against Jakrajutatip. She claimed the JKN CEO accused her of taking “money under the table” for contestant placements—allegations she firmly denied.

“Jakrajutatip not only defames me but also discredits the women who have won the Miss Universe crown by implying their titles were bought and not earned,” Shugart said, calling the accusations “dangerous and reckless.”

Despite the controversy, Miss Universe forged ahead with an ownership restructuring. Mexican businessman Raúl Rocha Cantú, who holds the Miss Universe Mexico franchise, acquired 50 percent of the organization in early 2024. The move effectively transformed Miss Universe into a tri-national partnership among Thailand, Mexico, and the United States.

“There’s an opportunity to give Miss Universe’s audience more of what they want—authentic representation and empowering products,” Rocha Cantú said. “It’s one of the most iconic names in beauty, and we’re excited to create more opportunities for women worldwide.”

Jakrajutatip, who remains MUO co-owner, praised the partnership: “Raúl’s entrepreneurial spirit and business success will help drive our vision of a pageant-product-platform model. Since we first met at Miss Universe 2022, he’s been integral to our growth.”

When rivals unite

The surprises didn’t stop there. In 2024, Miss Grand International (MGI) founder Nawat Itsaragrisil acquired the Miss Universe Thailand (MUT) franchise—an announcement that stunned pageant fans.

An event was held to mark the partnership between MGI Public Company Limited and MUO, bringing two longtime Thai rivals together onstage. In a moment no one expected, Jakrajutatip and Itsaragrisil shook hands and shared a hug.

“New era, new Miss Universe Thailand,” Nawat wrote on Instagram after the event.

MUT soon released a video message featuring Jakrajutatip welcoming Itsaragrisil to the Miss Universe family. Calling him an “esteemed leader” with “outstanding success,” she teased collaborations between MUO and MGI, thanking fans for their continued support.

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