CBS to buy social network Last.fm
It is expected to pay $280 million for the Last.fm site, which caters to music fans.
CBS Corp. is buying a popular social networking website organized around musical tastes for $280 million, combining a traditional broadcast giant with an early leader in online radio.
CBS is expected to announce today that it has acquired London-based Last.fm, which claims more than 15 million monthly users, including more than 4 million in the U.S.
Source: http://www.latimes.com/business/la-fi-cbs30may30,1,3380181.story?coll=la-headlines-business&ctrack=1&cset=true
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