Tweet

CBS Pays $280M For Online Music Site Last.fm

By John Eggerton -- Broadcasting & Cable, 5/30/2007 3:04:00 AM

CBS continues to invest in online properties as it looks to drill deeper into a space increasingly popular with its traditional advertising and viewer base.   The company ponied up $280 million for music-based social networking/Internet radio site, Last.fm. The site claims 15 million active users in 200 countires, many of them the younger audience that older-skewing CBS is looking to court.

CBS has also been raising its music profile, re-launching the

CBS Records

label with an online focus, hiring  a

music industry exec

to integrate more music in prime time, and even slating a new musical drama for the fall.   Founders Felix Miller, Martin Stiksel and Richard Jones will continue to run the site.   The move comes just a week after CBS bought financial news site

Wallstrip.com

Tweet

Talkback

We would love your feedback!

Post a comment

» View All Talkback Threads

Related Content

• Topics
• Author
• Most Popular Pages

No related content found.

Also by this author

• Pai: Biennial Reg Review Should Be Commission-Level Decision

• Groups Seek Wholesaling, Other Conditions on Dish Waiver

• APTS' Butler: Consolidating Some Operations May Better Serve Public

• Verizon/SpectrumCo Critics Hammer Telco Over DSL Decision

• Fox News' Chris Wallace Wins 'Jeopardy' Against Kay, Dr. Oz

Also by John Eggerton

Most Popular Pages

No Top Articles

• Resource Center
• Browse Categories
• Browse Companies

Featured Company

• Mixpo

  

  Mixpo is a video advertising technology provider that enables publishers, ad networks, and agencies to easily deliver dynamically tailored, interactive video ads that are customized in real-time for unique audience segments. Our platform also provides automatic multivariate testi..more

---

Most Recent Resources

• The New Normal for Promoting Tune-in
• Infrastructure Design for High Volume Video Workflows
• Multi Format Encoding for Efficient Content Repurposing
• The CIOs Guide to Videoconferencing Security Keeping Pace with th..
• Extracting and Preparing Metadata to Make Video Files Searchable