Columbus Nova Technology Partners, an investment firm, has become a significant shareholder in on demand music service Rhapsody. Concurrent with CNTP’s investment, Rhapsody is restructuring the company’s US operations, affecting approximately15 percent of Rhapsody’s staff.

Jon Irwin is stepping down as president of the company, and will continue on as a strategic adviser. Rhapsody has also formed an executive operating committee consisting of Rhapsody executives Brian Ringer, chief technology officer, Paul Springer, senior vice president, Americas, Thorsten Schliesche, senior vice president, Europe and new chief financial officer, Ethan Rudin. 

Jason Epstein and Andrew Intrater from CNTP have joined the company’s board of directors.

Rhapsody International operates as Rhapsody in the United States and Napster in Europe.

[Image courtesy: Rhapsody]