US broadcaster CBS has bought the London-based social networking website Last.fm for $280 million (£142 million).
Last.fm, which claims to have around 20 million active users per month, is a music recommendation site which allows users to listen to music based on their listening habits.
The purchase follows a spate of similar acquisitions, such as Google’s purchase of YouTube (see Google Acquires YouTube For $1.65 Billion).
Leslie Moonves, CBS chief executive, said: “Last.fm is one of the most well-established, fastest-growing online community networks out there. Their demographics also play perfectly to CBS’ goal to attract younger viewers and listeners.”
It had previously been rumoured that Viacom, which has filed a lawsuit against Google in the US over alleged copyright infringement (see Viacom Files $1 Bn Lawsuit Against YouTube), was interested in buying Last.fm.
Related Links
