For the primary time in history, a media entrepreneur from Thailand, who also supports transgender rights, has purchased the Miss Universe organization for $20 million.
JKN Global Group Pcl’s CEO and largest shareholder, Jakapong “Anne” Jakrajutatip, is well-known in Thailand for her appearances on local adaptations of Project Runway and Shark Tank.
She founded the Life Inspired For Thai foundation to advertise rights to dignity and opportunity for transgender people. She has spoken openly about her experiences as a transgender woman.
According to Jakapong, the acquisition is a “strong, strategic addition to our portfolio” and Miss Universe hopes to grow in Asia with its content, licensing and merchandising capabilities.
JKN produces its own programs and imports content for Thailand, reminiscent of Bollywood dramas and documentaries. Its shares rose about 10% in early trading Wednesday.
The Miss Universe organization, which Donald Trump co-owned from 1996 to 2002, organizes an annual beauty pageant that has been broadcast in 165 countries for 71 years.
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Anne Jakkaphong Jakrajutatip, Thai media mogul and transgender rights advocate. Photo credit: JNK Global Group/CNN Business
In a press release announcing the acquisition in October 2022, JKN Global Group stated that it intends to expand into Asia and grow the Miss Universe Organization by introducing recent skincare, cosmetics, lifestyle, dietary supplements and beverage products.
According to Jakkaphong, the corporate was “extremely honored” to make the acquisition.
“We strive to not only continue the company’s legacy of providing a platform for passionate people from different backgrounds, cultures and traditions, but also to evolve the brand with the next generation in mind,” she said.
The CEO and president of the Miss Universe Organization expressed their excitement in a joint statement to “proceed the evolution of the Miss Universe Organization with JKN.”
“Our progressive approach continues to place us at the forefront of our industry,” they said.
According to a JKN press release, in consequence of the acquisition, Jakkaphong is now the primary female owner of the Miss Universe organization. The Miss Universe pageant, one of the popular on this planet, began in 1952.
Over the past ten years, like many other major competitions, it has needed to take care of increased public demand for greater diversity, representation and inclusivity. After a Canadian contestant took legal motion after being informed she can be disqualified attributable to her sex assigned at birth, transgender contestants weren’t openly open until 2012.
Some critics say the premise of a beauty pageant is inherently flawed, while others say the situation has modified significantly lately.
Beauty pageants for transgender persons are becoming increasingly more popular, specifically Miss International Queen, which was established in 2004 and took place this 12 months in Thailand. To promote gender fluidity and lift awareness in regards to the transgender minority in India, some countries have introduced their very own versions. In 2017, India organized the first-ever Miss Transqueen India pageant.
Moreover, in 2019, all five major pageants — Miss Universe, Miss World, Miss USA and Miss Teen USA — had a lady of color because the winner. This was a big achievement considering that black women weren’t allowed to compete within the Miss America pageant until the Nineteen Forties, and the primary black contestant didn’t appear on the stage until 30 years later.
Source: Reuters.com, CNN Business
