CBS acquired social-networking Web site Last.fm for $280 million, delving further into the music business where it was once a major player.
Last.fm, “The Social Music Revolution,” was founded in the U.K. in 2002 and now has 15 million plus active users in more than 200 countries. Me included.
Last.fm’s team — including founders Felix Miller, Martin Stiksel and Richard Jones — will continue to independently run the site.
[SOURCE: The Wall Street Journal (paid sub. req.)]
CBS Makes Wise Investment
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