ARTISTdirect, Inc. (ARTD)

[MWM]

Peer Media Technologies Announces Merger Discussions Terminated

May 10, 2011 8:00:00 AM

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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.