Try adding the option "nosplash" (or replace "splash" with "nosplash") to the kernel line in your bootloader. Fedora 7 probably uses GRUB bootloader, so
Code:
su
gedit /boot/grub/menu.lst
then locate the kernel you're booting (line starts with 'kernel') and if there's the word "splash" in the line (closer to the end of the line than beginning, usually
should be easy to find), replace it with "nosplash", or if it's not there at all, just add "nosplash". Should work, if I'm not mistaken.
EDIT: then just save, close the file, reboot and see if it helped. With GRUB it's this easy; with LILO you need to re-run 'lilo' to write changes to MBR/partition.