NEWS Q Television Network Sets Sight on Hollywood [FCYPGSK]
PALM SPRINGS, Calif.--(Business Wire)--May 20, 2005--
Q Television Network (Pink Sheets: QBID) announced today
that they are in negotiations to purchase a production studio in the
greater Los Angeles area. The studio currently has production
contracts which Q Television will inherit once the deal is finalized.
Q Television hopes to take possession of the studio by June 1, 2005
and have a final closing no later than July 1, 2005.
"With the revenue currently being generated from the studio, this
turn key operation, equipped with the latest technologies, including
fiber to send and receive our signal, will cut our production costs by
70%," said Frank Olsen, President and CEO of Q Television Network.
"With a studio in Dallas and soon the one in the LA area, we will have
the capacity to increase our live programming to 60%, making Q
Television the only GLBT network with that large of a percentage of
original programming. And, we will still drastically reduce our
monthly costs."
"This California studio will be our home base. Among the new shows
to be shot there will be Gay Day, our morning talk show, which will
consist of two main celebrity hosts and correspondents from around the
U.S., which will begin airing in June. Other shows to be shot will be
Gay Court, a dance show, and a weekly comedy show. This is just one
more step to show the carriers that we are a viable player for the
next decade," added Olsen.
About Q Television Network: This television network was organized
to create and develop a network devoted to providing television
programming for the gay and lesbian community. While the company
expects much of its subscriber base to be comprised of members of the
gay and lesbian population, management also believes that quality
programming about the gay and lesbian experience, designed to
entertain, educate and inform, will attract many other segments of the
viewing public. The company's programming will be available on a
subscription basis to those desiring its programming. The network will
broadcast 24 hours per day, 7 days per week. Providing distribution
via satellite ensures availability of the network across the United
States, including Alaska, Hawaii and Puerto Rico. Q Television Network
is the Network for the Gay Games VII. For further information on
programming and subscriptions, please visit www.qtelevision.com.
Safe Harbor Statement
As a cautionary note to investors, certain matters discussed in
this press release may be "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. Such
matters involve certain risks and uncertainties that could cause
actual results to differ materially, including the following: changes
in economic conditions; general competitive factors; the television
network's ability to execute its business model and strategic plans;
and the risks described from time to time in the company's Securities
and Exchange Commission filings.
CWR & Partners, LLP
Media Relations Contact:
Ronnie Welch, 508-222-4802
Ronnie@cwrpartners.com
or
Equity Relations, Inc.
Investor Contact:
Richard Brown, 617-314-7379
Staff@EquityRelations.com
Copyright Business Wire 2005
20May05 14:36 GMT
Symbols:
us;QBID
Source BW Business Wire
Categories:
MST/I/ENT MST/L/EN MST/R/NME MST/R/US MST/R/US/CA TGT/BWB
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