Miss Universe Pageant Files Bankruptcy, 1 Year After Transgender Move
The pageant which began in 1952 and was formerly owned by Donald Trump for nearly 20 years has filed for bankruptcy.
Pageant began to accept male competitors in 2022
The Miss Universe Pageant was owned by Donald Trump from 1996 until 2015 when he began his run for President. Over the years, it was carried on TV by CBS, Fox, and NBC. The last major broadcast was by Fox in 2019, the last three were split between the Spanish network Telemundo and the FYI Network.
In 2022, the pageant was purchased by the CEO of JKN Global Group of Thailand and transgender activist Anne Jakrajutatip for $20 million. According to the National Review, Jakrajutatip promised to make the pageant into an 'empowerment tool for women, run by and for women.'
However, the pageant immediately began to admit male transgender competitors, creating a worldwide storm of controversy, with supporters and opponents voicing their views.
JKN's stock value has dropped 80 percent since 2022, the pageant will still take place this year in El Salvador this coming weekend. Two biological men are competing. The new swimsuit rules allow competitors to use capes to help disguise their bodies.
The pageant made headlines earlier this year when a 22-year-old man from the Netherlands won his country's title and will be one of the competitors.
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Gallery Credit: Liz Barrett Foster