Blackout Media Corp (BKMP)

[newsmile]

TORONTO--(MARKET WIRE)--Mar 12, 2007 -- Blackout Media Corp. (Other OTC:BKMP.PK - News) 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.