CBS acquires

    No one expected, but despite the rumors that Viacom is going to acquire for $ 450 million, CBS today announced the purchase of 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. claims to have more than 15 million users worldwide, and 4 million of them are in the United States.

    “ 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. ” 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 project also looks much healthier than its competitor, Pandora , which has licensing problems on all sides.

    based on LA Times

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