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September 15, 2005 - 2:02 PM EDT Print Font Down Font Up Charts
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Triangle Multi Media Purchases Network Teleports, Inc.
Triangle Multi-Media Limited, Inc., (OTCBB Other: QBID), the parent company of Q Television Network, announced today the purchase of Network Teleports Inc.(NTI) of New Orleans. The purchase will be made with private financing of five million dollars, and will not dilute Triangle Multi Media stock, QBID. The purchase will include an ownership position by the private equity group, but controlling interest will be with Triangle Multi Media.
"We have begun to secure long term contracts generating more than $20,000.00 per day from Fortune 500 companies requiring uplink services in the New Orleans area. We feel this purchase will greatly add to Triangle's bottom line, but more importantly this purchase will streamline transmission of the Q Television Network from our studios in Burbank, CA," said Frank Olsen, CEO and founder of Triangle Multi Media and it's subsidiary, Q Television Network. "NTI has been deemed an official EOC or Emergency Operation Center for the city of New Orleans and has been instrumental in establishing communications in the city. We are operating at nearly 100% capacity and our transmission services are being utilized by everyone from federal and state government agencies to large networks in the New Orleans area."
NTI's transmission facilities include satellite antennas, fiber optic and microwave systems, studios, and editing and playback facilities for both audio and video. Its control center in New Orleans houses one of the first digital hubs for National Public Radio. NTI also has a team of technicians in every state in the U.S. who install and maintain satellite systems. NTI is linked via fiber optic lines to every major sports stadium and most large convention centers and hotels in the lower 48 states. In response to the economic needs of the 21st century, NTI has established itself as a "Virtual Teleport," integrating facilities to give customers rapid, convenient, reliable access to advanced communications.
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