A radical new way of media buying?

Philips Inc., the Dutch consumer electronics giant, has had very revolutionary media buys in the past year or so. Their model reflects their brand message of "sense and simplicity." What they do is buy up all the ad space in magazines or on a TV show thus allowing the consumer to have a more pure ad-free consumer experience. In the past, they bought up four magazines thus eliminating the "annoying subscription cards."

Their newest media buy is buying up all the ad space in the upcoming Texas vs. Oklahoma State game on TBS thus allowing viewers a more pure game experience of watching the Longhorns dominate the Cowboys. They would give the ad space back to TBS for more game related coverage and analysis.

Philips has done more "simple" media buys in the past but apparently they were not as successful or didn't gain as much attention. My question to you readers is does this media buying model a true extension of their "sense and simplicity" brand message? Do consumers even care that they see less commercials and print ads because of Philips "generosity?"

Like what Brad says in his post, could this be a way that media is the new creative?

update
They're taking over the internet! First, the NYTimes exclusive paid content, now ESPN.com insider content.