Q Television Network Closes Studio Deal in Burbank, CA
PALM SPRINGS, Calif., Aug. 12, 2005 (PRIMEZONE) -- Q Television Network (Pink Sheets:QBID), the first 24/7 premium network for the gay and lesbian community, which will be celebrating its one-year anniversary on September 5th, announced today that it has purchased and closed on a revenue generating studio in Burbank, California. The studio will be renamed "Q Television Media City" and will be the center of all of Q's original programming.
Q Television Media City -- when not in use filming for Q Television -- will be rented out to filmmakers, television creators and entertainment executives seeking a Los Angeles studio for production. Currently the studio generates up to $400,000.00 per month in production fees.
"This turn-key facility, which has been the home of "Jeopardy" and the "Wheel of Fortune," is state of the art and will make our transition out of Dallas quite seamless," said Frank Olsen, President, CEO and Founder of Q Television Network. "Our Partnership with Firestone has never been stronger, but our growth required us to obtain an independent studio of our own. Media City equips us with all the necessary technology and space to create, produce and shoot all of our original programs. Q Television is now extremely visible to the media universe because of our own studio in close proximity to the most famous studios in the world. We are extremely pleased with this purchase, and the added income that the studio will bring in will reduce our monthly liability by 73 percent."
There will be an open house for all viewers and investors mid-September. An announcement on the exact date and time will be made a few weeks in advance.
About Q Television:
This 24/7 premium television network is organized to create, develop and feature television programming for the gay and lesbian community, including live & interactive content every weeknight, plus sports, information and entertainment. 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 is available on a subscription basis to those desiring to subscribe. The network is telecast 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 official network of Gay Games(r) VII. The network is also ad-supported. 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 risks and uncertainties that may 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.
CONTACT: Media Relations CWR & Partners, LLP Ronnie Welch (508) 222-4802 Ronnie@cwrpartners.com
Investor Contact: Equity Relations, Inc. Richard Brown (617) 314-7379 Staff@EquityRelations.com
VACM>> ValCom, Inc. Completes Acquisition of Studio in Burbank Monday September 25, 9:30 am ET
LAS VEGAS--(BUSINESS WIRE)--ValCom, Inc. (OTCBB: VACM - News; Frankfurt XETRA: VAM), a Las Vegas-based entertainment production company, is pleased to announce the completion of the acquisition of Media City Studios, a 25,000-square-foot state-of-the-art production facility located in Burbank, Calif.
ValCom has finalized the purchased of the Media City Studios in Burbank. It's being renamed ValCom Burbank Studios. It is one of Burbank's finest television production facilities, with three edit bays, two sound stages and over 25,000 square feet of production support. This purchase will give ValCom production presence in both major entertainment markets, Las Vegas, Nevada and Burbank, Calif.
ValCom has completed production agreements with Sony Picture Television Division for post productions for some of the top-rated syndicated television shows and NBC Universal's Telemundo Hispanic Network for production of "Me Caso Contigo," a newlywed game show to be broadcast on KWHY channel 22 Los Angeles this fall.
ValCom has established itself as a leader in production facilities for television and film. ValCom will remain sharply focused on two major market opportunities: development and production of film and television projects in both the Burbank and Las Vegas markets.
"ValCom Burbank Studios has the necessary technology and space needed to create, produce and shoot all of our clients' programs. We are extremely pleased with the addition of this purchase because it brings us back to our grass roots and gives us a presence in both Los Angeles and Las Vegas. We believe we gain economies of scale, performance assurance and a means to grow our business in a rapid and cost-effective manner," said Vince Vellardita, President and CEO of ValCom, Inc.
"This turn-key, state-of-the-art facility was the home of 'Jeopardy' and the 'Wheel of Fortune' post production for many years. This studio facility production revenue exceeded 36 million dollars over the last eight years. It will make our presence in both the California and Nevada markets viable for filmmakers, television creators and entertainment executives," concluded Vellardita.
Growth Plan
The newly acquired facility, ValCom Burbank Studios, will be available to rent to filmmakers, television creators and entertainment executives seeking a Los Angeles studio for production.
Based in Las Vegas, ValCom, Inc. is a diversified and vertically integrated, independent entertainment company. ValCom, Inc. creates and operates full-service facilities that accommodate film, television and commercial productions with four divisions comprised of: studio, film and television; live theater; camera and equipment rentals; and broadcast television. ValCom's client list consists of majors such as MGM, Paramount Pictures, ABC, CBS, Sony, NBC, HGTV, D.I.V., History Channel, Discovery, Food Network, Sony Pictures T.V., PAX, MTV, Disney Channel, HBO, NBC, Sci-Fi, GSN, Comedy Central, VH-1, FOX Television, Lifetime, over a period of 12 years. The company web site: http://www.valcom.tv
CAUTIONARY STATEMENT
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates," "will," or "plans" to be uncertain and forward looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the company's reports and registration statements filed with the Securities and Exchange Commission.
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