GAAY INFO: For anyone that is interested. From my conversations with Frank Olson President of Triangle Broadcasting. Phone 1-760-322-1217 Web site trianglebroadcasting.com Renee Shenk Controller. Outstanding shares 34mil. Float unknown. Gay radio broadcasting via satalite. Buying TV station in Palm Springs California. Selling 2 radio stations. Will be airing Bingo over the radio with instant payoffs through Western Union. Will be selling rubber goods on the internet (sex toys). Have signed deal to broadcast on KFII in LA. Have cut monthly expenses to $ 80,000 per month. Stock should be trading in the .30 cent range. These are Frank Olson's words not mine. GAAY NEWS inlandempireonline.com
Palm Springs firm eyes move into TV
By Jeanette Steele
The Press-Enterprise
PALM SPRINGS A Palm Springs-based radio company
has purchased a bankrupt television production studio and
wants to launch the Coachella Valley's newest TV station.
Triangle Broadcasting Co. said it will seek approval from the
Federal Communications Commission for a full-power
television station. It will also pursue a network affiliation, said
Dick Weiner, Triangle executive vice president. Right now,
ABC and NBC are the only networks with affiliates having a
major Coachella Valley presence.
Story continued below
Triangle said it has an agreement to buy the assets of Sun Broadcasting
Systems Inc., which filed for Chapter 11 bankruptcy earlier this month.
Assets and liabilities were not listed in the filing.
Sun's former 8,000-square-foot production facility in Palm Springs will
allow Triangle to jump into the television business. Triangle will move its
operations to the newly purchased building.
A Sun Broadcasting official couldn't be reached for comment. The
company is known for having been the production site of the Morton
Downey Jr. show in the early 1990s, Weiner said.
Triangle's radio stations in Seattle and Hawaii have targeted the gay and
lesbian market. The company is traded publicly on the Nasdaq bulletin
board system under the ticker symbol GAAY.
Triangle plans to launch a new company, Palm Springs Studios Inc.
Through divisions, it will offer studios for produc
tion of commercials and television programs, video duplication and
editing by outside users. Another business unit, Video Caddy
Productions, will tape golf games for individuals.
Tuesday May 11, 4:36 pm Eastern Time
Company Press Release
Triangle Broadcasting Company Inc. Announced Today a Strategic Alliance to acquire Production Studios in Palm Springs, Calif.
PALM SPRINGS, Calif.--(BUSINESS WIRE)--May 11, 1999--Triangle Broadcasting Co. Inc. (OTCBB:GAAY - news) President Frank Olsen announced the signing of an interim agreement to acquire the facilities of Sun System Broadcasting Co., which consists of 12,000 square feet of the television facilities at 1000 Tahquitz Canyon Way, including state of the art television production equipment, satellite facilities and studios.
The new company will be called Palm Springs Studios Inc. and will include three major profit centers: Palm Springs Production Center, Palm Springs Studios Productions and Video Caddy Productions. Triangle's Peabody Award winning Executive Vice President Dick Weiner, will serve as executive vice president and general manager of the newly created Palm Springs Studios Inc. in addition to his duties at Triangle Broadcasting Co.
The newly formed Palm Springs Production Center will be available for a full array of commercial and program production, video editing and duplication. It will meet the demands for television production in the dramatically expanding Coachella Valley marketplace and satisfy the burgeoning demands in Palm Springs from the Hollywood production community.
Palm Springs studios Productions will be producing television and radio programming to meet the needs of the vastly expanding television and radio market.
Video Caddy Productions is a unit specifically created to capture individual great magical moments on the magnificent, world famous golf courses of the Palm Springs area.
The Triangle Broadcasting Co. will immediately move its studios and headquarters into the new facility. In addition, Frank Olsen was delighted to announce a new profit center with the development of a new high technology interactive Web site to be called www.Triangle.com, full of surprises and excitement, now in development. Triangle's newest board member, Dr. Marion Sherman, will oversee this project to insure it will come to fruition.
The Triangle Broadcasting Co. Board of Directors voted to seek approval from the FCC for a new full power television station to broadcast from its existing studios to serve the entire Coachella Valley in Southern California.
The Triangle Radio Network will be broadcasting live 24 hours a day, 7 days a week from the new facilities and will continue offering unique programming targeted for the lucrative gay and lesbian market.
Forward looking statements (statements which are not historical facts) in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in the company's filings with the Securities and Exchange Commisssion.
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Contact:
Triangle Broadcasting Co.
Roger Asquith, 760/322-1217
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