Napster considers a possible sale

By Alex Dobuzinskis

LOS ANGELES, Aug 29 (Reuters) - Napster Inc (NAPS.O: Quote, Profile, Research, Stock Buzz) said on Friday the online music service's board was willing to consider a sale of the company and had hired UBS Investment Bank to consider options.

UBS has been "actively advising the company with respect to possible strategic alternatives," the board directors said in a letter to shareholders.

The board also urged shareholders to reject three dissident board candidates in favor of reelecting three existing directors.

They said the dissident group implied the company's board is "not willing to consider a sale of the company."

"This is not true," the directors said in the letter.

Napster considers a possible sale....