JKN Global Group, the owner of the Miss Universe Organization, has filed for bankruptcy. However, this development has not affected the plans for the upcoming Miss Universe pageant, scheduled for next week.
After acquiring the Miss Universe Organization for $20 million in 2022, JKN, a media distribution company, faced financial challenges, leading to a petition for “business rehabilitation,” accepted by Thailand’s bankruptcy court. Despite these challenges, JKN remains dedicated to providing a “top-notch experience” for Miss Universe fans.
Anne Jakkaphong Jakrajutatip, a transgender rights advocate and the CEO of JKN, had plans to expand the organization’s presence in Asia and explore branded merchandise opportunities. The bankruptcy filing is a strategic move to restructure debt and address liquidity issues rather than signalling a complete business shutdown.
2023 Miss Universe Pageant and Its Significance
The 2023 Miss Universe pageant, set to be held in El Salvador, is gaining attention for featuring two transgender contestants, Marina Machete and Rikkie Kolle, representing Portugal and the Netherlands, respectively.
The inclusion aligns with the organization’s commitment to diversity and inclusivity, reinforcing that “trans women are women.” If either Machete or Kolle wins, it would be a historic moment, marking the first time a trans woman wins the Miss Universe title. With nearly 90 contestants participating, the pageant, now in its 71st year, promises to celebrate diversity, evaluated through personal statements, interviews, and traditional pageantry segments. Despite JKN’s financial woes, the event is all set to go as planned.
