Donald Trump sells entire Miss Universe Organization to a Hollywood talent agency
By Elizabeth Kwiatkowski, 09/15/2015
Donald Trump has apparently made a quick buck off the Miss Universe Organization.
The politician and former The Celebrity Apprentice star announced Friday he had purchased NBC's half of the Miss Universe Organization, buying out his former partner in the business to take complete control of the company that sponsors three beauty pageants.
But now, Trump has decided to flip it, the New York Postreported.
Trump, 69, turned around and sold the entire organization to Hollywood's WME/IMG talent agency.
Alan Garten, general counsel at the Trump Organization, told the Post that Trump "did very well." The politician is therefore handing over the Miss Universe, Miss USA and Miss Teen USA pageants to WME/IMG.
NBC cut ties with Trump three months ago and opted out of airing the Miss USA 2015 pageant because the Republican candidate had characterized many undocumented Mexican immigrants who enter the United States as druglords, criminals and rapists during a presidential speech in July.
Trump, who had threatened to sue NBC at the time, obtained its 51% stake "as part of the settlement of his litigation against NBCUniversal," WME/IMG said in a statement on Monday.
Univision -- a Spanish-language subsidiary of NBC -- had also dropped the Miss USA pageant from its airing schedule. Trump therefore filed a $500 million lawsuit against Univision in June.
Miss USA eventually took place as planned in Baton Rouge, Louisiana, but the beauty contest aired in July on the Reelz network instead.
WME/IMG reportedly produces more than 20 fashion weeks a year and previously served as an executive producer of the Miss Universe competition, which is distributed in more than 190 countries.