NewStar Media last month handed its PR and investor relations account to New York-based GS Schwartz & Co.
The Los Angeles-based entertainment company, which had revenues of $16.6 million last year, hired Schwartz to generate awareness within the investor community and among consumers. NewStar did not employ a PR firm prior to this, and there was no bidding on the account.
'We talked to other firms but we thought Schwartz was the right firm for us,'said president and CEO Ron Lightstone.
Part of Schwartz's strategy involves updating NewStar's web site to include financial data, and doing mailings to customers to inform them about the company's stock.
'People overlook the fact that customers can be investors and vice versa,' Carl Hymans, senior vice president/group manager, told PRWeek.
'First we'll introduce the (NewStar) management to analysts and brokers in New York and elsewhere, then we'll try to go beyond the standard.'.