SOURCE: Blackout Media Corp.

March 12, 2007 09:15 ET

Share Buy-Back Update

TORONTO -- (MARKET WIRE) -- March 12, 2007 -- Blackout Media Corp. (PINKSHEETS: BKMP) is pleased to inform its shareholders that it has purchased the additional shares to complete the purchase of the one (1) billion shares that it had committed to under the share repurchase plan announced in December of 2005.

Since we have completed that initial phase of the buy-back the board of directors have decided to initiate a second buy-back program and become more aggressive in retiring shares of the Company's stock from the market with a five (5) billion share buy-back program over the next two years.

This second stock buy-back program approved by the board authorizes the company to buy back up to five billion of the company's stock over the next two years. The specific timing and amount of repurchases will vary based on market conditions, securities law limitations and other factors. The repurchases will be made using Blackout Media's cash resources, and the program may be suspended or discontinued at any time without prior notice.

"We took the opportunity over the last several weeks under the market conditions to buy additional shares under the previously announced program," stated Sandy Winick, President of Blackout. "We are very happy to have fully completed that first initiative," he added.

"The steps that occurred over the past several months for the company and for The Fight Network has given us the confidence in the long-term prospects of the company and its holdings, this along with creating and maintaining shareholder value is top priorities for management," he continued.

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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