A prominent transgender rights media mogul has bought the Miss Universe organization for $20 million, marking the first time the pageant will be hosted by a woman, her company announced on Wednesday, Reuters reported.
Transgender Jakapong “Ann” Jakrautathip, the CEO and largest shareholder of JKN Global Group Pcl (JKN), is a celebrity in Thailand, appearing on local versions of reality shows Project Runway and Shark Tank.
She has spoken openly about her experience as a transgender woman and founded the Life Inspired For Thailand Foundation to campaign for the right to dignity and opportunities for transgender people.
The acquisition is a “solid and strategic addition to our portfolio,” Jakapong said, adding that Miss Universe, with its content, licensing and merchandising capabilities, plans to expand its presence in Asia.
JKN produces its own shows and distributes foreign content in Thailand, including documentaries and Bollywood dramas.
The company’s shares rose nearly 10% in early trading on Wednesday.
The annual beauty pageant, organized by the Miss Universe organization, which was co-owned by Donald Trump from 1996 to 2002, is broadcast in 165 countries and has been going on for 71 years.
Prior to this latest acquisition, the Miss Universe Organization was owned by the American company WME/IMG.
Source: Hot News RO
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