LOS ANGELES: The once-ubiquitous online music sharing service Napster is working with Citigate Sard Verbinnen as the company prepares for the possibility of putting itself up for sale.
Napster announced on Monday that it had hired the investment bank UBS to "assist in evaluation of strategic alternatives" for the company's future. Napster VP of corporate communications and PR Dana Harris said that Sard was brought in to handle communications surrounding that announcement, including financial media relations.
The Blueshirt Group is handling Napster's investor relations work. The company also works with Ruder Finn on consumer PR.
The company said that the decision to hire UBS came "in response to recent third party interest in establishing strategic partnerships or potentially acquiring the company."
Harris would not say whether Sard would be the firm to handle the M&A communications for a potential Napster sale, but it stands to reason that the agency would have the inside track.
There is currently no timetable for the completion of UBS' review, Harris said.
Napster service currently has about 500,000 subscribers. The company is far smaller than its late 1990's heyday, but is still considered a strong brand in the online music world.