Peer Media Technologies Announces Merger Discussions Terminated

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.

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