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.