Mood Media said there were no guarantees a transaction would occur.
Mood Media has received non-binding expressions of interest from third parties with whom it is currently in discussions with respect to a potential sale.
Earlier, the board and senior management initiated a process to identify and consider a range of operational, financial and strategic alternatives to enhance shareholder value.
Mood Media said there were no guarantees a transaction would occur.
The board intends to complete its strategic review process as soon as possible during third-quarter 2013.