Skip to main content

Is Miss Universe Broke?

BROKE? Last October, JKN Global owner and CEO Anne Jakrajutatip (Khun Anne) purchased the Miss Universe Organization (MUO) for US$20 million. However, she hasn’t paid in full. So far, she has only paid $4.5 million, and if she doesn’t come up with the remaining $15.5 million, she risks declaring bankruptcy and that the Miss Universe 2023 edition in El Salvador in November may have to be cancelled.
JKN must settle the outstanding debt including capital and interest, for its JKN239A debentures by September 1st, but JKN has proposed to extend the payment which will be negotiated during a loan shareholder meeting scheduled for September 29 Meanwhile, JKN’s default on debt repayment has severely impacted JKN’s liquidity and has caused significant losses to investors. The latest Thai stock market graph shows JKN Global’s stocks taking a nosedive.
When JKN Global took over MUO, there was much media fanfare celebrating the acquisition and pageant fans heralding a new era in pageantry. However, the writing is on the wall. $20 million is rather a mediocre amount to pay for a prestigious pageant; even MGI President Nawat Itsaragrisil thought the fee was cheap. Khun Anne, with her lavish lifestyle and flair for theatrics, had boasted that the new Miss Universe (R’Bonney Gabriel) would be traveling in the company jet and living in a fancy Bangkok apartment; in reality, R’Bonney flies coach and she allegedly stays in a hotel while in Bangkok. She hasn’t even been invited to grace A-list events since she won the crown last January. We were led to believe that Esther Swan, the former talent manager, and the two Carloses (Carlos Fernandez and Carlos Capetillo, former franchise directors), left MUO for greener pasture, but I’m inclined to believe that they were fired because of MUO’s extreme budget cuts. And did you notice that no major English-language TV network has bought the rights to broadcast the next edition of the pageant?
No one knows how much money El Salvador paid to host the pageant in November. But whatever the amount is, it’s not enough to pay the remaining debt. This explains why MUO opened the franchise applications to the general public; the more applicants pay the initial $1,000 administrative fee, the better, though the sum is still only peanuts. Now MUO is selling the El Salvador Tour Package for $7,000 per person; seriously, unless your income is six digits and you don’t have a family to feed, there’s no way the average pageant fan can afford the tour package.
It is unfortunate that MUO has worsened since JKN Global’s takeover, but it is even more unfortunate - and sad - that its owner suffers from delusions of grandeur - who doesn’t really know anything about running a pageant - and uses her fame to defame an institution that is in the brink of collapsing unless she sells it to the highest bidder (though there is no guarantee that someone will buy it). Khun Anne did a live yesterday denying the report by The Bangkok Post and claiming that her company gained profits during the last two quarters, but at this point - considering the troubling consequences since the acquisition of MUO and that the stock buyers never got their shares the past year - does anyone believe her?



Popular posts from this blog

Trans-Identified Male Crowned “Miss Greater Derry 2023,” Takes Home Women’s Scholarship

A local beauty pageant is attracting ample mockery on social media after a trans-identified male was crowned the winner of the competition and awarded a scholarship intended for young women. Brían Nguyen , 19, was awarded the crown in the Miss Greater Derry pageant, held on November 8 in the Greater Derry area of New Hampshire. The competition is a locally-run event under the national Miss America series of pageants. In addition to winning the crown, Nguyen will receive the  Miss Greater Derry Scholarship , a financial award established to support young women. Nguyen, who is male, is a freshman at Nashua Community College majoring in Business Management. After his win, Nguyen wrote on  Facebook : “ I am ecstatic to be the FIRST transgender woman to be a Miss America local titleholder, and I hope to make everyone proud and become the first to walk the Miss America stage. I am Brían Nguyen, your Miss Greater Derry 2023 .” Nguyen had previously announced on Instagram that he has intention

Miss America CEO & Others Resign Amid Scandal Over Offensive Emails – Update

2nd UPDATE, 12:03 PM:  Miss America Organization  CEO  Sam Haskell  resigned his post today amid an investigation into offensive emails he sent about a pageant winner. In a statement He has resigned along with president and COO Josh Randle and Lynn Weidner, the board chair who sent emails involved in the controversy. Related Two More Ex-Fox News Employees Join Defamation Suit Against Bill O'Reilly - Update According to a Twitter post from Dan Meyers, who is taking over as interim chairman, Weidner will remain on the board during a transition period: View image on Twitter Miss America Org ✔ @MissAmericaOrg Update from the Board of Directors... 3:01 PM - Dec 23, 2017   35 35 Replies     144 144 Retweets     291 291 likes Twitter Ads info and privacy UPDATED, 5:30 PM:  The Miss America Organization suspended its chief executive today, less than 24 hours after emails surfaced in which he disparaged the

Miss USA Vice-President Max Sebrechts Accused Of Sexual Harassment

IMAGE COURTESY: MISS ACADEMY  Max Sebrechts, the husband of Crystle Stewart, President of Miss USA organization (and formerly Miss USA 2008), has been accused of sexual improprieties by several Miss USA 2021 contestants, according to a YouTube video “Miss USA Scandal?” by Natly Denise, a “truther and pop-culture enthusiast.” You can watch the entire video here: On her video, Natly displays a screenshot  of an anonymous email sent to the affiliates of IMG/Endeavor including to Paula Shugart, president of the Miss Universe Organization (MUO). The email was cc’d to Crystle and Michael Hannah (franchise director of Miss USA). The author of the email claims that MUO has been sent substantial evidence of Sebrechts’ sexual predatory behavior and Shugart has known about it for a while but didn’t say anything (obviously to cover it up and to protect Crystle). Natly also displays screenshots of direct messages sent to her by former Miss USA contestants (the names hav