CBS to buy Last.fm!!

May 30, 2007

Random purchase of the week in my opinion! News just out that CBS is buying the social music site Last.fm for $280m! The LA Times has a story on the deal, and Mashable brought my attention to it.

Last.fm claims 15 million users and it’s a great service that I use regularly. I’m surprised that such a large media company is buying them to be honest as I’d always assumed they may be sucked into another social site (MySpace or Facebook’esque) as that was where I really saw the value.

Changes have been afoot at CBS for a while as it trys to keep up with the new-media revolution. They’ve gone from an ethos of creating programming to trying to reach out to the broadest audience possible. “We see it as a chance to get new eyeballs — or in this case earlobes,” said a CBS executive.

Great for all the guys at Last.fm if it’s true and I’m sure the initial investors are rubbing their hands with glee!

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