Just found a comment dated 1970 by "Curious" who was looking for a remote that had a timer on it so that you could mute commercials and choose how long you want them to be mute. Well it looks to me there's a patent on one right now on this site:
www.freepatentsonline.com
UNIVERSAL TELEVISION REMOTE CONTROL DEVICE WITH TIMER - Johnson Ron
A television remote control device having a communicator configured to wirelessly communicate with a media device to send a mute signal and an unmute signal to the media device, to mute the media devi