http://biz.yahoo.com/bw/041001/15234_1.html
Press Release Source: Q Television Network
Chicago Gay Games Signs Multi-million Deal for TV/Radio Broadcast Rights
Friday October 1, 10:30 am ET
Letter of Intent Signed with California-based Q Television Network
CHICAGO--(BUSINESS WIRE)--Oct. 1, 2004--Chicago organizers of Gay Games VII today announced a multi-million dollar cash and barter deal assigning television and radio broadcast rights to the Q Television network. Q Television Network and Chicago Games, Inc. (CGI) signed a Letter of Intent (LOI) marking the final negotiation period for an agreement transferring the media rights to the California-based cable network.
The LOI outlines the broad terms of the proposed deal, including broadcast rights, joint development of Gay Games-related programming, broadcast airtime for advanced Gay Games advertising, and live and taped coverage of Gay Games VII events from 15 to 22 July 2006. As part of the proposed agreement, Q Television, a subscriber-based television network affiliated with RCN Cable and other providers, will unscramble its signal during live coverage of the Gay Games in 2006. Q Television would also serve as the agent for the redistribution of television and radio broadcast rights, allowing for access beyond Q Television's cable footprint, especially in international markets. The media rights being sold would not prohibit standard news coverage.
"It has been my dream to get television created specifically for the LGBT audience on the air," said Frank Olsen, CEO and President of Q Television. "With the Gay Games as our landmark network event, we will begin immediately to present the stories of the men and women worldwide that participate in the Games and build anticipation and excitement until the opening ceremonies."
Steven Grunberg, Executive Vice-President of Programming for the Q Television Network, said "Q Television is all about 'community' and showing LGBT life at its best and most uplifting. We are honored to be chosen as the home for the Games and we will work hand-in-hand with Chicago's organizers to deliver one of the great LGBT events of the new millennium."
Chicago Outstripping Fundraising Projections
"In the six short months since Chicago was selected as host of Gay Games VII, we've made dramatic progress toward our financial goals and achieved fundraising benchmarks months, or in some cases, years ahead of schedule," said Tracy Baim, CGI Board Co-Vice Chair and Chair of the Fundraising Committee. "Once broadcast rights are assigned, we will have raised more than US$3 million in cash and in-kind resources." CGI announced a million-dollar sponsorship deal with PlanetOut Inc. on 20 September 2004.
"We believe that these rapid and positive developments are representative of the widespread support for the Gay Games mission and the Gay Games VII business model," said Dennis Sneyers, CGI Co-Chair. "Our business plan is built upon years of analysis and study by the international Federation of Gay Games (FGG), a return to the core of the Gay Games - an event that is laser-focused on the athletes, artists and fans. A conservative budget, expert community organizers, a true partnership with the FGG, and top-notch vendors hired to implement key components of the plan means we now enjoy the confidence of our community, sports organizers worldwide, and now the corporate world."
"We are extremely excited to have a broadcast partner this far in advance of the Games," said Kevin Boyer, CGI Board Co-Vice President and Chair of the Marketing Committee. "Advanced television coverage and programming will let us tell the inspiring Gay Games story to even more people. The Gay Games have never had an opportunity like this and we are excited to be an integral part of the Q Television mission to create a network devoted to providing television programming for the LGBT community."
Negotiations were spearheaded by Amy Shomer of Plan B, Chicago's primary corporate sponsorship development firm. With offices in Los Angeles, Montreal and London, Plan B has worked to match corporate sponsors with the Gay Games since being retained by Chicago in early 2004. Corporate sponsorship of Gay Games VII is still available. Companies interested in learning more about Gay Games sponsorship should visit http://www.GayGamesChicago.org/sponsors/ or call (773) 907-2006.
About Q Television Network
Q Television Network was organized to create and develop a network devoted to providing television programming for the gay and lesbian community. The company's programming is available on a subscription basis and is now broadcasting on the RCN Cable Network 24 hours per day, 7 days per week in markets across the United States, including Alaska, Hawaii and Puerto Rico.
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 ******port, 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.
Chicago Games, Inc. is the host of Gay Games VII and is led by experienced civic leaders from Chicago's business, sports and non-profit sectors. For information about how to sponsor or participate in Gay Games VII in Chicago, visit www.GayGamesChicago.org, e-mail info@GayGamesChicago.org, or phone (773) 907-2006.
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® is a registered trademark of the Federation of Gay Games.
Chicago Games, Inc 5443 N. Broadway, Suite 101, Chicago, IL 60640
773.907.2006 - GayGamesChicago.org- info@GayGamesChicago.org
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Contact:
CWR & Partners, LLP
Ronnie Welch, 508-222-4802
Ronnie@cwrpartners.com
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