Univision has elected to end its business relationship with the Miss Universe Organization due to part-owner Donald Trump's "recent, insulting remarks about Mexican immigrants," the company told TheWrap on Thursday via a statement.

The broadcaster "will not be airing the Miss USA pageant on July 12 or working on any other projects tied to the Trump Organization," the entertainment group continued.

"At Univision, we see first-hand the work ethic, love for family, strong religious values and the important role Mexican immigrants and Mexican-Americans have had and will continue to have in building the future of our country," the company concluded.

Univision did promise that its news division would cover Trump's presidential run fairly.

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On Wednesday, Latin performer J Balvin canceled his scheduled performance at the Miss USA pageant in protest of Trump's remarks.

"It was going to be my first performance on national [mainstream] television," Balvin told Billboard.

"We're talking about our roots, our culture, our values," he said. "This isn't about being punitive, but about showing leadership through social responsibility. His comments weren't just about Mexicans, but about all Latins in general."

Upon hearing the speech, and learning of Trump's connection to the beauty contest, Balvin severed ties with the event. "I think music is to have fun. It's for people to have a good time with. I'm no savior and I'm no Robin Hood," he said. "But in this case, I feel totally comfortable and responsible with my decision."

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Trump, who co-owns the Miss Universe Organization in a joint venture with NBCUniversal, has come under heavy fire for the controversial — and many think racist — comments during his June 16 speech, when he called immigrants criminals and rapists.

"When do we beat Mexico at the border?" asked Trump. "They're laughing at us, at our stupidity. And now they are beating us economically. They are not our friend, believe me. But they're killing us economically.

"The U.S. has become a dumping ground for everybody else's problems," he continued. "When Mexico sends its people, they're not sending their best. They're not sending you. They're sending people that have lots of problems, and they're bringing those problems with us. They're bringing drugs. They're bringing crime. They're rapists. And some, I assume, are good people.

"It's coming from more than Mexico. It's coming from all over South and Latin America, and it's coming probably from the Middle East," he continued.

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Here is Univision's full statement:

Today, the entertainment division of Univision Communications Inc. announced that it is ending the company's business relationship with the Miss Universe Organization, which is part-owned by Donald J. Trump, based on his recent, insulting remarks about Mexican immigrants. At Univision, we see first-hand the work ethic, love for family, strong religious values and the important role Mexican immigrants and Mexican-Americans have had and will continue to have in building the future of our country. We will not be airing the Miss USA pageant on July 12 or working on any other projects tied to the Trump Organization.

Univision News and the local news division will continue to provide comprehensive coverage of all candidates, including Mr. Trump, to ensure our audience continues to have access to all points of view.

Read original story Univision Pulls Plug on Miss USA Pageant Over Donald Trump's 'Insulting Remarks About Mexican Immigrants' At TheWrap