LOS ANGELES and LOS GATOS, Calif., March 21, 2011 /PRNewswire/ -- Peer Media Technologies, Inc., (OTC Market: ARTD), and Bay TSP.com, Inc., both leading digital media technology companies, announced today they had signed a non-binding letter of intent conditional on various pre-conditions to merge by May 31, 2011. The announcement was made by Dimitri Villard, CEO of Peer Media Technologies, and Stuart Rosove, CEO of Bay TSP. The resulting company will be the largest in its field and the only one in the world to offer a full spectrum of anti-piracy and business intelligence services, and will be renamed to reflect the new company's strength and strategic vision.
Both companies are leading providers 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. In addition, they also provide the world's largest entertainment and media companies with the most effective means available to globally detect, track, and deter the unauthorized distribution of their digital content.
"The combination of Peer Media Technologies with Bay TSP creates a true powerhouse in the field of intellectual property protection," said Dimitri Villard, Chief Executive Officer of Peer Media. "Not only will the merger create the largest corporation in the world in the field of anti-piracy and business intelligence from monitoring un-monetized content consumption, it will result in a global service offering that others simply can't match."
The combined services portfolio will provide clients with powerful, end-to-end solutions designed to meet specific content protection, intelligence and distribution needs. With a global infrastructure spanning the most prolific P2P networks, content hosting websites known as cyberlockers, live streaming sites and user-generated content (UGC) sites, both Peer Media and Bay TSP are dedicated to helping content owners not only understand, but also leverage today's largest pool of online consumers.
The companies' peer-to-peer (P2P) and web scanning takedown, countermeasures and notice services deliver unparalleled copyright enforcement capabilities that significantly reduce the ability of pirates to access copyrighted material.
Stuart Rosove, Chief Executive Officer of Bay TSP commented, "This merger will enable us to dramatically expand our respective companies' effectiveness by providing customers with the widest range of options to meet the constantly evolving challenges in copyright protection and enforcement. We look forward to providing future milestones as the merger begins to take advantage of our strong synergistic digital services."
About Peer Media Technologies, Inc.
Originally incorporated as ARTISTdirect, Inc. in 1999, 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 is the leading provider of intellectual property protection and business intelligence services to major motion picture studios, record labels, television networks, gaming companies and software publishers. For more information, please visit: www.peermediatech.com.
About Bay TSP.com, Inc.
Bay TSP has been a leading provider of content protection and tracking services since its founding in 1999. The company offers the industry's leading commercial search and discovery services for tracking and analyzing the impact of digital media online. For over 10 years Bay TSP has provided services to the world's largest media and entertainment companies, including motion picture studios, broadcasters, pay-per-view producers, video game developers, sports leagues, as well as print and software publishers. For more information, please visit: www.baytsp.com.
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.
Peer Media Technologies, Inc.
Dimitri Villard, CEO
Bay TSP.com, Inc.
Stuart Rosove, CEO
Financial Communications Contact:
Trilogy Capital Partners
Darren Minton, President
SOURCE Peer Media Technologies, Inc.