Channel 7 and its founder and owner Net Vasquez have been making headlines since September - and not good headlines either. By now you've probably heard about the debts Net Vasquez owes BTL and the ones Channel 7 owes. Well - while Vasquez is in discussions with BTL to settle his debts - tonight we can tell you that Channel 7 owes that company no more.

Tropical Vision Limited today settled all outstanding matters with BTL, including an advertising contract executed by Nestor Vasquez. The outstanding balance on that was today paid in full by Tropical Vision into BTL's account.

And with that there's also a major internal change here at Channel 7. A statement released this evening says that this station is making "a strategic pivot, with a change in leadership and parting of ways with its founder and former owner, Mr. Nestor A. Vasquez.

Channel 7 started operating in 1981 as the first broadcast television station in Belize and evolved over the past four decades as a family-owned enterprise." The statement adds, quote, "We thank Nestor Vasquez for his pioneering work and dedication to the station throughout the years."

A new ownership group, led by Jules Vasquez - who is now the Managing Director - has acquired Nestor Vasquez's holdings in Tropical Vision Ltd, Channel 7."

The statement concludes, quote

" Tropical Vision, Channel 7 looks forward to shaping a new strategic direction under the new ownership group and leadership of Jules Vasquez. We will keep viewers updated as we forge ahead on our new path." End quote.

Channel 7