"NBCUniversal is ending its business relationship with Mr. Trump," reads a network statement

Credit: Kena Betancur/AFP/Getty

Following Donald Trump‘s inflammatory comments about Mexican immigrants during a speech announcing his candidacy for president, NBC will no longer be airing the Miss USA and Miss Universe pageants.

“At NBC, respect and dignity for all people are cornerstones of our values,” reads a network statement released to Deadline on Monday. “Due to the recent derogatory statements by Donald Trump regarding immigrants, NBCUniversal is ending its business relationship with Mr. Trump.”

The statement continues: “To that end, the annual Miss USA and Miss Universe Pageants, which are part of a joint venture between NBC and Trump, will no longer air on NBC.”

Trump, 69, will also not be participating in The Apprentice, according to NBC, “as Mr. Trump has already indicated.”

Donald Trump: Mexican Immigrants Are ‘Bringing Drugs,’ ‘Bringing Crime’ into the U.S.’

In his June 16 speech, Trump accused Mexican immigrants of “bringing drugs” and “bringing crime” and further accused them of being “rapists,” adding, “And some, I assume, are good people.”

Addressing gathered press and like-minded supporters on the steps of Trump Tower in New York City, Trump went on to claim that the “problems” are “coming from more than Mexico. It’s coming from all over South and Latin America.”

In response, Univision – the largest Spanish-language broadcaster in America – announced late last week that it would not air the Spanish-language simulcast of the Miss USA pageant on July 12 as was originally planned. The network labeled Trump’s comments as “insulting,” lauding “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.”

Miss USA, part of the Miss Universe Organization, is a highly lucrative enterprise co-owned by Trump and NBCUniversal. Latin women have contributed immensely to Miss Universe in particular – 22 women from Latin countries have been crowned Miss Universe since the competition’s inception in 1952.

The reigning Miss Universe is Colombian-born Paulina Vega; and Nia Sanchez, of Spanish and Mexican descent, was crowned Miss USA last year.

Following Univision’s announcement, NBC distanced itself from Trump: “Donald Trump’s opinions do not represent those of NBC,” read a statement released to PEOPLE on Thursday, “and we do not agree with his positions on a number of issues, including his recent comments on immigration.”

RELATED VIDEO: Trump Threatens Lawsuit After NBC Drops Miss USA

Donald Trump’s War on Univision

On his Instagram, Trump recently published a letter sent to Randy Falco, the CEO and president of Univision Communications Inc., in which Trump bans all Univision employees from his Miami golf course.

Furthermore, Trump insisted on his Twitter that the network had apologized to him, but that he will not accept: “I will be suing them for a lot of money.”

Hours before NBC announced that it would not be airing the Miss USA and Miss Universe pageants, Trump reiterated his claim that Univision had apologized to him.

Trump has yet to comment on the removal of the pageants from NBC airwaves.