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.