JKN Global Group, 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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How has the bankruptcy filing of the JKN Global Group impacted the future of the 2023 Miss Universe pageant?
Title: Uncertainty Looms Over 2023 Miss Universe Pageant Amid JKN Global Group’s Bankruptcy Filing
Introduction:
The 2023 Miss Universe pageant, set to include transgender competitors for the first time, is facing uncertainty as the JKN Global Group files for bankruptcy just days before the event. The organization, acquired by Thai media mogul Anne Jakrajutatip in 2022, faces an uncertain future after the bankruptcy filing, raising concerns about the future of the franchise.
Bankruptcy of JKN Global Group:
Thai media mogul Anne Jakrajutatip purchased the Miss Universe Organization in 2022 for $20 million, following her transition as a transgender activist. Jakrajutatip’s acquisition was seen as a strategic addition to the JKN Global Group’s portfolio, given her widespread recognition as a transgender celebrity in her home country. However, just a year later, the franchise is facing instability due to the company’s bankruptcy filing.
Perseverance of the Miss Universe Organization:
In the aftermath of the bankruptcy filing, the Miss Universe Organization released a statement acknowledging the current financial situation but reassuring fans that the 2023 Miss Universe pageant will proceed as scheduled in El Salvador on November 18, 2023. The organization remains committed to delivering a top-notch experience for its supporters despite the challenges posed by the JKN Global Group’s bankruptcy.
Transgender Representation:
Notably, the 2023 pageant will showcase the presence of two transgender contestants who are identifying as women for the first time. Rikkie Kollé, the first transgender Miss Netherlands winner, and Marina Machete, a flight attendant representing Portugal, will participate in the event. Their inclusion follows the historic participation of Ángela Ponce of Spain, the first transgender competitor in 2018, who failed to make it to the finals.
Miss Universe Organization’s Stance on Transgender Inclusion:
The Miss Universe Organization asserts that transgender women are unequivocally women, emphasizing their commitment to celebrating all women. They have long embraced the inclusion of transgender competitors, a progressive stance compared to other similar programs. This commitment to inclusion and diversity remains a cornerstone of the Miss Universe pageant.
Conclusion:
Amid the JKN Global Group’s bankruptcy filing, the future of the Miss Universe franchise hangs in the balance. However, the Miss Universe Organization has reassured fans that the 2023 pageant will proceed as planned, upholding their commitment to providing an unforgettable experience. With transgender contestants set to participate, the event continues to champion diversity and inclusion in the world of beauty pageants.
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