CBS acquires Last.fm
No one expected, but despite the rumors that Viacom is going to acquire Last.fm for $ 450 million, CBS today announced the purchase of Last.fm for $ 280 million.
The price, of course, seems ridiculous in the light of recent tightened acquisitions and crazy prices, but nevertheless this deal is a good outlet for the London music project.
Last.fm claims to have more than 15 million users worldwide, and 4 million of them are in the United States.
“Last.fm is a fast-paced, well-organized community,” said Leslie Munvis, CBS Executive Director. “Their demography also plays an important role for us, because we plan to attract the attention of looking and listening youth. ”
Last.fm also has deals with record companies such as EMI , Warner Music and The Orchard , and of course, its acquisition would be successful for some record company or a big player in the media market. The Last.fm project also looks much healthier than its competitor, Pandora , which has licensing problems on all sides.
based on LA Times
The price, of course, seems ridiculous in the light of recent tightened acquisitions and crazy prices, but nevertheless this deal is a good outlet for the London music project.
Last.fm claims to have more than 15 million users worldwide, and 4 million of them are in the United States.
“Last.fm is a fast-paced, well-organized community,” said Leslie Munvis, CBS Executive Director. “Their demography also plays an important role for us, because we plan to attract the attention of looking and listening youth. ”
Last.fm also has deals with record companies such as EMI , Warner Music and The Orchard , and of course, its acquisition would be successful for some record company or a big player in the media market. The Last.fm project also looks much healthier than its competitor, Pandora , which has licensing problems on all sides.
based on LA Times