SOURCE: Blackout Media Corp.

March 12, 2007 09:17 ET

Blackout Media Corp. Clarifies Convertible Debenture

TORONTO -- (MARKET WIRE) -- March 12, 2007 -- Blackout Media Corp. (PINKSHEETS: BKMP) is pleased to inform its shareholders that it has worked out a further arrangement with the holders of the convertible debenture that there will be NO conversions of the debenture to common stock until the end of 2009, in addition to the moratorium on the conversion, the company at its option can repay the debenture at any time during up until the end of 2009 months without any penalties or bonuses of common stock.

The final terms of the extension of the non-conversion was that the Company can convert the debenture to a long-term note payable, only in the month of December of 2009 should revenues top a pre-negotiated amount at The Fight Network.

"We are very pleased that we could work out this extension of the non-conversion of the convertible debenture. This enables us to continue to focus on the business and building shareholder value for the long term," stated Sandy Winick, President of Blackout. "This gives our current shareholders more confidence in the long-term prospects of the company as they should look at this as a vote of confidence from those holding the convertible debenture," he added.

About Blackout Media Corp.:

Blackout Media Corp. is a holding company with an interest in Blackout Communications who is a diversified media and entertainment company conducting operations in digital television, VOD, PPV, radio, the Internet and print under the brand name "The Fight Network." The activities of Blackout Media Corp. are conducted principally in Canada and the United States.

Safe Harbor

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.

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