Company Behind Miss Universe Files For Bankruptcy After Inclusion Of Trans Contestants
OAN’s Brooke Mallory
1:48 PM – Thursday, November 16, 2023
The 2023 Miss Universe pageant, which recently announced that they will be including transgender competitors, is still scheduled for this Saturday, but only a few days prior to it, the JKN Global Group filed for bankruptcy.
The organization was purchased by Thai media mogul Anne Jakrajutatip of the JKN Global Group in 2022 for $20 million after she became a transgender activist. As a transgender celebrity with widespread recognition in her home country, Jakrajutatip referred to the acquisition at the time as “a strong, strategic addition to our portfolio.”
However, the franchise itself now seems unsteady a year later.
A public document from JKN Global Group submitted to the Stock Exchange of Thailand said: “JKN Global Group Public Company Limited (the ‘Company’) has filed a petition for business rehabilitation with the Central Bankruptcy Court under the Bankruptcy Act B.E. 2483 (1940) (as amended) (the ‘Bankruptcy Act’) on November 8, 2023. 2023, the Central Bankruptcy Court has subsequently issued an order to accept the petition for business rehabilitation of the Company on November 9, 2023.”
In a follow-up statement, the Miss Universe Organization stated that in light of “the current financial situation,” they can “confirm that Miss Universe 2023 will be held in El Salvador on 18 November 2023, where a top notch experience provided to our fans will remain our top priorities.”
At least two transgender contestants who are identifying as women for the first time are expected to compete in this year’s Miss Universe pageant: Rikkie Kollé, the first transgender Miss Netherlands winner, and Miss Portugal, Marina Machete, who works as a flight attendant.
This comes after Ángela Ponce of Spain, who was the first transgender competitor overall in 2018, did not make it to the finals.
“Trans women are women, full stop,” the Miss Universe Organization told CNN in October, following Miss Portugal’s crowning. “We are here to celebrate women, full stop. This has been true for more than a decade, and we’re proud to have made this change very early on, compared to other programs.”
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What impact will the inclusion of transgender contestants have on this year’s Miss Universe pageant, especially considering the financial challenges faced by the JKN Global Group
The 2023 Miss Universe pageant, which recently announced its inclusion of transgender competitors, is facing a setback just a few days before the event. The JKN Global Group, the organization that owns the pageant, has filed for bankruptcy.
In 2022, Thai media mogul Anne Jakrajutatip, a transgender activist, bought the Miss Universe franchise for $20 million. At the time, she referred to the acquisition as a strategic addition to their portfolio. However, it seems that the franchise’s stability is now uncertain.
According to a document submitted by the JKN Global Group to the Stock Exchange of Thailand, the company filed for business rehabilitation under the Bankruptcy Act on November 8, 2023. The Central Bankruptcy Court subsequently accepted the petition on November 9, 2023.
In response to this financial situation, the Miss Universe Organization released a statement confirming that the 2023 pageant will still take place in El Salvador on November 18, 2023. They assured fans that providing a top-notch experience remains their top priority.
Despite the uncertainty surrounding the organization, at least two transgender contestants are expected to compete in this year’s Miss Universe pageant. Rikkie Kollé, the first transgender Miss Netherlands winner, and Marina Machete, a flight attendant from Portugal, will compete as women for the first time. This follows the inclusion of Ángela Ponce of Spain, the first transgender competitor in 2018, who did not make it to the finals.
The Miss Universe Organization has been vocal about their support for transgender women, stating, “Trans women are women, full stop. We are here to celebrate women, full stop. This has been true for more than a decade, and we’re proud to have made this change very early on, compared to other programs.”
Despite the financial challenges faced by the JKN Global Group, the Miss Universe pageant will continue, showcasing diverse competitors and promoting inclusivity. The Miss Universe Organization remains committed to providing a memorable experience for its fans.
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