Thai celebrity media tycoon Anne Jakapong Jakrajutatip – who is a transgender woman – has bought the company that runs the Miss Universe beauty pageants for $20m.

Ms Jakrajutatip is the boss of JKN Global Group, a television production company responsible for the Thai versions of popular reality shows Project Runway and Shark Tank.

In the past, she has talked about her experience as a transgender woman and also founded the Life Inspired For Thailand Foundation to fight for transgender rights and opportunities for transgender people.

Ms Jakrajutatip stated that the Miss Universe Organization was a “strong, strategic addition” to her company’s holdings.

“We seek not only to continue its legacy of providing a platform to passionate individuals from diverse backgrounds, cultures, and traditions, but also to evolve the brand for the next generation,” she added.

The Miss Universe pageant has been held annually for 71 years and is broadcast in more than 160 countries.

• Tags: Miss Universe