The Board of Directors of Idle Media, Inc. (OTCPK:IDLM) authorized a share repurchase program on August 29, 2012. Under the program, the company will repurchase up to 4,000,000 shares in a privately negotiated transaction from its stockholder. The shares will be repurchased at a price of $0.05 per share, for a total of $0.2 million.