business news in context, analysis with attitude

The Wall Street Journal reports this morning that Viacom Inc. plans to create a cable television network targeted to gay people, featuring programs largely populated by gay people.

In fact, Viacom chairman/CEO Sumner Redstone recently said that the company made a mistake by not developing such a business several years ago. It would have cost just $30 million to launch, and now would be worth a billion dollars.

The WSJ reports that "Canada already has a gay-themed channel, called PrideVision TV and launched in 2001, but it's in a paltry 25,000 homes." But a US version driven by Viacom is expected to be a far more successful venture.
KC's View:
Can a gay-themed supermarket be far away? Sounds like an opportunity folks…

There are, after all, 14 million gay people in the US with average household income of more than $61,000 a year, spending between $400 billion and $475 billion annually.