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Q Television Network Acquires Extensive Film Library; Partners with ValCom, Inc. to Purchase 143 FilmsPALM SPRINGS, Calif. --(Business Wire)-- May 24, 2005 -- Q Television Network (Pink Sheets: QBID) announced today that it has finalized an agreement with ValCom, Inc. (OTC Bulletin Board: VACM; Frankfurt XETRA: VAM) to acquire a comprehensive video library. Q Television Network is now the exclusive distributor of the entire 143 film video library, and intends to market the videos on a worldwide basis. Q Television anticipates the video library will bring six figures of revenue a year to the company, since the agreement gives Q Television worldwide distribution and sales rights for the library, which includes drama, comedy, romance, made-for-television, and feature films. Aside from bringing in revenue, the films will be used as a barter position to accumulate more gay and lesbian television content. With worldwide rights, Q Television will be able to barter for films distributed internationally, including Germany and Australia. "This is a great deal for us as we are always looking for ways to increase revenue and to partner with quality entertainment companies like ValCom. In addition, we have worldwide rights to these films and will sell them in the domestic and international syndication marketplace," said Frank Olsen, President and CEO of Q Television Network. "Our goal is to always produce quality original programming for the GLBT community, and the revenues from the sale of these films will allow us to produce new shows." The library was initially purchased by ValCom in August of 2002 and now Q Television has all rights to the films through this acquisition. "Frank Olsen and Q Television are positioned to be a huge success - he is going to use the revenues from this library to produce more original programming for his network," said Vince Vellardita, Chairman and CEO of ValCom, Inc. "In my personal opinion, Frank Olsen is clearly the leader in the gay television market - his programming, ideas, marketing, and the team he has developed are way ahead of others in his field. Q Television is a home run." About ValCom, Inc. Based in Valencia, California, ValCom, Inc. with wholly owned subsidiary ValCom Studios, Las Vegas, is a diversified and vertically integrated, independent entertainment company. ValCom, Inc. through its operating divisions and subsidiaries creates and operates full service facilities that accommodate film, television and commercial productions with its four divisions, which are comprised of: studio, film and television, camera/equipment rentals, and broadcast television ownership. The company offers its clients a full complement of animation services, broadcast facilities, recording studios and other related services for the entertainment industry. The company owns/operates 10 acres of land and approximately 200,000 square feet of commercial building space with 10 film and television production sound stages. ValCom maintains long-term contracts with Paramount Pictures. ValCom's equipment/camera and personnel rental business, Half-day Video, is a leading competitor in the Hollywood community. The company and its partnership operate ValCom Broadcasting KVPS-TV Channel 8 in Palm Springs, CA. For additional information visit www.valcom.tv. 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. Press Release Information Source: Q Television Network |
