CNN —A Thai media tycoon and transgender rights advocate has bought the Miss Universe Organization for $20 million, according to her company, which will now host the international beauty pageant. In a joint statement, the CEO and president of the Miss Universe Organization said they were “excited to continue the evolution of the Miss Universe Organization with JKN.”“Our progressive approach continues to position us at the forefront of our industry,” they said. The purchase makes Jakkaphong the first woman owner of the Miss Universe Organization, according to the JKN news release. The Miss Universe beauty contest, one of the world’s most-watched pageants, has been running since 1952. And in 2019, the winners of five major pageants – Miss Universe, Miss World, Miss America, Miss USA and Miss Teen USA – were all women of color, a remarkable milestone given black women weren’t allowed to compete in Miss America until the 1940s, and the first black contestant didn’t take that stage until 30 years later.

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