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(Toronto, Ontario) Q Television Network announced Friday that it has made an offer to purchase Canada's PrideVision TV.
PrideVision was the world's first Gay, Lesbian, Bisexual and Transgender television network to broadcast 24/7.
The Palm Springs, California Q Television was organized to create an LGBT network in the US. It proves programming via satellite across the United States, including Alaska, Hawaii and Puerto Rico.
"By acquiring Pride Vision, Q would be able to cut its expenses down on all of its programming costs," Frank Olsen President and CEO of Q Television Network said in a statement Friday.
"It is still early in the game but we feel confident with our bid to purchase the network and further expand Q and the Queer television movement."
PrideVision has not publicly commented on the offer but it would be subject to approval from Canadian broadcast regulators.
Should the acquisition be complete, Q Television network would comply with all Canadian Broadcasting rules and regulations for all of its original programming the QT statement said.
PrideVision recently become embroiled in a bitter divorce battle between its major shareholder and his ex wife.
Bill Craig who owns the controlling interest in Canada's PrideVision owes his ex-wife $1.4 million. The couple broke up in 1993 and for the last seven years he has been in a relationship with another man.
An Ontario Superior Court judge earlier this month ordered a receiver be appointed over Craig's income and assets which consist mostly of his shares in PrideVision.
MTV's gay network, LOGO, is scheduled to begin broadcasting this fall. MTV is part of the giant cash rich Viacom and will be a formidable force for both Q Television and PrideVision.
©365Gay.com 2005
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