NEW YORK, June 16 /PRNewswire-FirstCall/ -- Masterbeat
Corporation, which owns and operates www.masterbeat.com, announced
today that it has signed a Letter of Intent to merge with
AudioStreet, Inc., a privately-held conglomerate of diverse media
website communities focused on music-based content;
AudioStreet.net, MixStreet.com and LiveMansion.com.
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Brett Henrichsen, Masterbeat's
CEO and Founder, announced, "Masterbeat was founded in an effort to
create the best user experience for music lovers and to offer only
the highest quality audio files in the process. This merger
will strengthen Masterbeat's bid to become the premier digital
music community on the web." Masterbeat.com is a digital
music download store offering consumers over 4 million tracks,
ranging from past and present hits to rare and exclusive dance and
DJ remixes from both major and independent labels.
AudioStreet.net and MixStreet.com were launched in 2004 and
2005, respectively, as online destinations for musicians, DJs and
music mixologists. The sites provide a platform for artist
discovery and for the promotion and distribution of new music from
independent producers. Combined, these two sites currently
have over 40,000 brands and 20,000 actively participating DJs.
Chris Messalas, Chairman of AudioStreet, Inc. stated, "We are
excited about the synergy that exists between AudioStreet's brands
and Masterbeat. We look forward to the imminent growth of all
of the brands under the stewardship of Masterbeat."
MASTERBEAT CORPORATION (OTC Bulletin Board: MSTO)
operates www.masterbeat.com, a digital music superstore offering
over four million fully DRM-free tracks in MP3 and WAV formats,
ensuring compatibility on all devices without restriction. This
virtual shopping mall houses an impressive catalog of music
spanning all genres, including dance, electronica, house, disco,
country, techno, rock, hip hop and R&B. Masterbeat.com is
also the leading web destination for hard-to-find, exclusive DJ
remixes of popular music. Masterbeat.com is the only online
retailer carrying the full catalog of any major label in lossless
(CD-quality) audio, which gives fans the opportunity to listen to
their favorite music the way it was recorded and intended to be
heard. Masterbeat's collection features music from all four
major record labels, as well as thousands of independent labels
from around the world. Masterbeat's ultimate goal is to
unlock the enormous revenue potential for artists and labels in
unreleased content.
AUDIOSTREET, Inc. operates several music and artist
discovery websites designed to allow new bands and producers to
market and promote their tracks to both the listening public and to
major label A&R departments. Since its 2007 launch the
site has registered over 70,000 new independent artist signups and
6 million song plays.
Forward-Looking Statements
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. These
statements are based on management's current expectations or
beliefs, and are subject to uncertainty and changes in
circumstances. Actual results may vary materially from those
expressed or implied by the statements herein due to changes in
economic, business, competitive, technological and/or regulatory
factors; acquisitions of dispositions of business assets; and the
potential impact of future decisions by management. More detailed
information about these factors may be found in filings by
Masterbeat Corporation (OTCBB: MSTO) with the Securities and
Exchange Commission. Masterbeat Corporation is under no obligation
to, and expressly disclaims any such obligation to, update or alter
its forward-looking statements, whether as a result of new
information, future events, or otherwise.
CONTACT: Brett Henrichsen, +1-323-467-5555
SOURCE Masterbeat Corporation
