CBS buys Last.fm

US broadcaster CBS has bought the London based music recommendation social networking website Last.fm for £142 million.

The site which is populated by a sophisticated audience of technically savvy music fans was snapped up at a comparatively higher price than the likes of MySpace and YouTube.

CBS chief executive, Lesley Moonves told the Graniad that Last.fm is one of the most well established, fastest growing online community networks and its demographics also play perfectly to CBS's goal to attract younger viewers and listeners across our businesses.

Last.fm claims to have around 20 million active users each month, four million of which live over the pond. It allows users to search for and listen to music they like based on their listening habits and recommendations of other users.

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