A Wall Street Journal report quoted the company's chairman and CEO Sumner Redstonme saying that such a channel could be worth a billion dollars. Redstone regretted the fact that two years ago Viacom had shelved plans to launch a network dedicated to the gay community.

The plans are very much in the prelimnary stage and the proposed network has yet to be given a name. Another report in AP quoted Redstone saying that Viacom was "not a culprit. We were a victim" of Jackson's Super Bowl performance. Viacom's latest plans come on the heels of the success of shows such as Queer Eye For Straight Guy.

Viacom is conducting discussions with cable operators regarding the feasibility of such a channel. Redstone also seemed unconcerned about possible opposition from conservative and religious groups in the US.