LOS ANGELES, May 10, 2011 /PRNewswire/ -- Peer Media
Technologies, Inc., (OTC Market: ARTD), a leading digital media
technology company, announced today it has discontinued discussions
with Bay TSP.com, Inc. regarding the previously-announced plan to
merge the two companies. The announcement was made by
Dimitri Villard, CEO of Peer Media
Technologies.
Peer Media Technologies is a leading provider of business and
marketing intelligence services for digital media measurement,
encompassing a large network of intelligent monitoring agents and
proprietary databases that track, verify, measure and report on
un-monetized digital media consumption activity.
"After conclusion of due diligence by the parties we were unable
to reach agreement on a definitive contract," said Dimitri Villard, Chief Executive Officer of Peer
Media. "We are now focused on pursuing our own future strategic
direction."
About Peer Media Technologies, Inc.
Originally incorporated as ARTISTdirect, Inc., the company
changed its name to Peer Media Technologies in 2010 after it
acquired Media Defender in 2005 and Media Sentry in 2009 and sold
its legacy music website business ARTISTdirect.com in 2010.
The company provides intellectual property protection
services to major motion picture studios, record labels, television
networks, gaming companies and software publishers. For more
information, please visit: www.peermediatech.com.
Forward-Looking Statements
Statements contained in this press release, which are not
historical facts, are forward-looking statements as that term is
defined in the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based largely on current
expectations and are subject to a number of known and unknown
risks, uncertainties and other factors beyond the Company's control
that could cause actual events and results to differ materially
from these statements. These risks include, without limitation,
that there can be no assurance that any strategic opportunities
will be available to the Company and that any strategic
opportunities may only be available on terms not acceptable to the
company. These statements are not guarantees of future performance,
and readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
release. Peer Media Technologies and Bay TSP undertake no
obligation to update publicly any forward-looking statements.
SOURCE Peer Media Technologies, Inc.