|$1.7 Million Cash and $1.5 Million Barter Secure TV, Radio and Internet Broadcast Rights for New LGBT TV Network|
Chicago organizers of Gay Games VII today announced the signing of a contract with the California-based Q Television Network (Pink Sheets:QBID) granting the new gay network television, radio and Internet broadcast rights in a deal valued at more than $3.2 million. Gay Games VII Sports and Cultural Festival will take place in Chicago, IL, USA, 15-22 July 2006.
The Q Television/Gay Games VII deal is for $1.7 million in cash plus more than $1.5 million in advertising and programming benefits, making the partnership worth more than $3.2 million, the largest-ever sponsorship of an event for the lesbian, gay, bisexual and transgender (LGBT) community. The contract, signed Dec. 3, 2004, grants Q Television Internet, radio and television broadcast rights and provides for joint development of Gay Games-related programming, broadcast advertising of the Gay Games from now through 2006, and live and taped coverage of the 2006 Gay Games in Chicago. (All sums are in US dollars.)
As part of the deal, Q Television, a paid cable network, will unscramble its signal during the week of the Gay Games, ensuring broad-based access to the pageantry of the ceremonies, exciting sporting competitions, inspiring cultural and arts offerings, and the warmth and beauty of Chicago. Q Television will also serve as the agent for the worldwide redistribution of television, radio and Internet broadcast rights, allowing for access beyond Q Television's cable footprint, especially in international markets. The media rights sold do not prohibit standard news coverage.
"The Q Television Network is proud to now be the broadcast home of the Gay Games," said Frank Olsen, President and CEO of Q Television Network. "This is a major contract for Q Television. Lesbian and gay sports are a crucial part of the LGBT community and the Gay Games are the worldwide expression of the best in amateur sport. The Gay Games in Chicago will be a monumental event for the worldwide gay and lesbian community and we are thrilled to be the only television network to have an exclusive contract. We look forward to telling the stories of these amazing athletes and artists to our viewers."
"Our partnership with Q Television will ensure international visibility for the Gay Games movement throughout the next two years," said Tracy Baim, Chicago Games, Inc. (CGI) Co-Vice Chair. "With integrated programming scheduled to take place throughout the months leading up to Gay Games VII in Chicago, Q Television Network will earn the title 'Network of the Gay Games'." CGI's negotiation team included Baim, attorney Gary Medler of Hinshaw & Culbertson, and CGI Co-Chairs Sam Coady and Suzanne Arnold. The broadcast relationship was initiated by Plan B, Chicago's primary corporate sponsorship development firm with offices in Los Angeles, Montreal and London.
Kathleen Webster, co-president of the international Federation of Gay Games, expressed excitement about the deal and the Chicago team. "This is the largest corporate partner ever to sponsor the Gay Games, and we are very excited at how quickly Chicago has secured major sponsorship for Gay Games VII. Having already surpassed corporate sponsorship totals for all of Gay Games VI in Sydney in 2002, CGI is on track to meet or exceed all financial projections," said Webster. Earlier this year, Chicago announced that PlanetOut, Inc. (Nasdaq: LGBT) had become a Premium sponsor of the 2006 Gay Games for $1.06 million, which, until the Q Television announcement, was the largest corporate support for an LGBT sporting event ever.
Q Television can be found on the cable network RCN (channel 255) in New York, Boston and San Francisco with distribution following in additional cities across the USA. It is currently the home for such original programming as "Q on the Move," a travelogue of gay-friendly places, people and events; "WOW! Women on Women," a lesbian talk show, and "Q the Music," a variety program of current music videos geared toward the gay and lesbian community. For further information on programming and subscriptions, please visit www.qtelevision.com.
About Gay Games VII
Gay Games VII Sports and Cultural Festival will take place 15-22 July 2006. Over 12,000 athletes from more than 100 countries will compete in 30 sports ranging from softball to dancesport, swimming to tennis. The weeklong event will include an arts festival, band, cheerleading and chorus performances, and a series of community-organized social events and parties. The opening ceremony is scheduled for 15 July at Soldier Field, the lakefront home stadium of American-style football's Chicago Bears. Closing ceremony will be 22 July at Wrigley Field, the home of Major League Baseball's Chicago Cubs, located in the heart of Chicago's largest LGBT neighborhood. Athletes and artists can register now for Gay Games VII and receive early registration discounts at GayGamesChicago.org.
About The Gay Games
The Gay Games was conceived by Dr. Tom Waddell, an Olympic decathlete, and was first held in San Francisco in 1982 with 1,350 participants. Subsequent Gay Games have been held in San Francisco (1986; 3,500 participants), Vancouver (1990; 7,300 participants), New York (1994; 12,500 participants), Amsterdam (1998; 13,000 participants), and Sydney (2002; 11,000 participants). The Federation of Gay Games is the international governing body that perpetuates the quadrennial Gay Games and promotes the event's founding principles of participation, inclusion, and personal best. For more information, visit GayGames.org.
About Q Television Network
Q Television Network is a subsidiary of Triangle Multi Media. Q Television was organized to create and develop a network devoted to providing television programming for the gay, lesbian, and bisexual community. 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 interested in its programming. The network will broadcast 24 hours per day, 7 days per week. The network will be available across the United States, including Alaska, Hawaii and Puerto Rico, through satellite distribution.
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.
Gay Games(R) is a registered trademark of the Federation of Gay Games.
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