Q Television Network Sets Sight on Hollywood.PALM SPRINGS, Calif. -- 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 Greater Los Angeles Area, or the Southland, is the agglomeration of urbanized area around the city of Los Angeles, California, United States. There are two "official" definitions—the Los Angeles metropolitan area consisting only of the Los Angeles and Orange . 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 (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. 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 GLBT Gay, Lesbian, Bisexual, Transgendered 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 United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , including Alaska, Hawaii and Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. . Q Television Network is the Network for the Gay Games VII Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement As a cautionary note to investors, certain matters discussed in this press release may be "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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. |
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