Bassett Media Group Updates Proposed Acquisitions

Bassett Media Group Corp. (TSX VENTURE:BMG) ("Bassett Media") today announced
that it is no longer pursuing the acquisition of certain assets from Sidetrack
Technologies Inc. ("Sidetrack"). Bassett Media had announced the signing of a
letter of intent with Sidetrack, a company that owns and operates full-motion
display systems for use as an advertising medium in subway and rail system
tunnels, in August 2009. 


Bassett Media also wishes to announce that it is no longer pursuing the
acquisition of Haizou Media Corporation ("Haizou"). Bassett Media Group had
announced the signing of a letter of intent with respect to the proposed
acquisition of all of the outstanding shares of Haizou, a company that owns and
operates advertising display screens in China, in October 2009.


Bassett Media President and CEO Matthew Bassett said that after a period of
further due diligence, it was determined that the proposed acquisitions were not
a strategic fit for the company.


Bassett Media continues to explore opportunities for accretive acquisitions in
the media space, Mr. Bassett said.


Bassett Media also announced today the resignation of Chief Operating Officer
Joseph Arcuri, effective immediately. Mr. Arcuri is pursuing other
opportunities, and the company wishes him well in his future endeavours. The
company is restructuring its executive management and will make further
announcements in due course, Mr. Bassett said.


About Bassett Media Group

Bassett Media is a Toronto-based media company created for the purpose of
holding and developing various media-focused businesses. Its two primary
business units in the media space are Impulse Media and Concourse Media.


Concourse Media was founded in 2002 and is one of the largest network providers
of digital advertising in Canada. Focused in Toronto's underground PATH system,
Canada's most densely populated urban economic centre, Concourse's network of 70
high-impact digital display screens reaches over 350,000 viewers on a daily
basis.


Impulse Media, also based in Toronto, was founded in 2005 and operates Canada's
largest in-store national retailer digital advertising network. Impulse focuses
on point of purchase sales with strategically-positioned digital screens in
PharmaPlus and Rexall pharmacies throughout the country.


This news release may contain "forward-looking statements" within the meaning of
applicable securities laws. Readers are cautioned to not place undue reliance on
forward-looking statements. Actual results and developments may differ
materially from those contemplated by these statements depending on a variety of
factors, including external economic factors that may be beyond the direct
control of Bassett Media. The statements in this press release are made as of
the date of this release. Bassett Media undertakes no obligation to update
forward looking information, other than as required by law.

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