Best Buy, the top US consumer electronics retailer, has reached a deal with online music retailer Napster to promote the latter's business, the two companies announced Thursday.

Under the multiyear 10-million-dollar agreement, Best Buy will promote Napster as its leading digital music service through comprehensive in-store marketing activities as well as extensive broadcast, print and online advertising, according to a joint statement released by the two companies.

"Best Buy will also market a co-branded version of Napster which will be made available to customers online through Bestbuy.com," the statement said.

Best Buy will receive up to 10 million dollars worth of stock in Napster's parent company, Roxio Inc., over the term of the agreement, the statement added.

"We are very excited to begin this strategic retail initiative with a partner of this caliber and one that shares our conviction that subscription services provide the most compelling consumer offering in the digital music market," said Chris Gorog, chairman and CEO of Los Angeles-based Napster and its corporate parent.

Source: Xinhua