Rappy Veteran Posted May 30, 2007 Veteran Share Posted May 30, 2007 Social music site Last.fm has been bought by US media giant CBS Corporation for $280m (?140m), the largest-ever UK Web 2.0 acquisition.The online network was founded in the UK five years ago and it now has more than 15 million active users. It allows users to connect with other listeners with similar music tastes, to custom-build their own radio stations and to watch music video-clips. Last.fm founding member Martin Stiksel said it was an "exciting opportunity". As part of the deal, Last.fm's managing team will remain in place and the site will maintain its own separate identity. Mr Stiksel said: "This move will really support us to get every track ever recorded and every music video ever made onto Last.fm. "With a strong partner like CBS, this is now within our reach." Dot.com boom CBS Corporation has business interests in TV, web and radio. CBS radio is the largest radio group in the United States, with 179 stations in the top 50 markets covering news, rock, country and urban music. The firm's president and CEO Leslie Moonves said: "Last.fm is one of the fastest growing online communities out there." Music lover The web has helped revolutionise listening to music He said Last.fm's strength in building communities around music and syndicating content was "central to CBS". He added: "Their demographics also play perfectly to CBS's goal to attract younger viewers and listeners across our businesses." CBS is not the first major player to purchase up-and-coming websites for millions or even billions of dollars, prompting what some have called the second dot.com boom. In 2005 Rupert Murdoch's News Corp snapped up social networking site MySpace for $580m (?290m). And last year, search engine Google paid $165bn (?82bn) for video site YouTube. Mr Stiksel said Last.fm would retain an independent identity. He said CBS was buying "great technology and a very vibrant, active community". "They want to move from a content company to an audience company giving the audiences control and learning from this and that's why Last.fm was their choice," he added. Mr Stiksel said he did not think that users would feel disappointed that a mainstream media firm had bought the site. "When we said revolution we mean that - we put the users in charge. CBS gets this. "They understand that consuming media is changing, the patterns are changing." Online network As part of the acquisition, the Last.fm management team, including founders Felix Miller, Martin Stiksel and Richard Jones, will continue to independently run the online network Mr Stiksel said the deal proved that Web 2.0 companies did not have to be in the United States to succeed. "Being in London has helped us; it's the best place to do things with music full stop. It's the place that leads the world." The three founders will now be among the most successful - and potentially wealthy - Web 2.0 pioneers in the world. Mr Stiksel said: "The success of the site is the most important thing. With a strong partner we can add the features we always dreamed about." Source : BBC News Link to comment https://www.neowin.net/forum/topic/563983-music-site-lastfm-bought-by-cbs/ Share on other sites More sharing options...
Jase Posted May 30, 2007 Share Posted May 30, 2007 Noooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo Link to comment https://www.neowin.net/forum/topic/563983-music-site-lastfm-bought-by-cbs/#findComment-588591199 Share on other sites More sharing options...
GuJu Posted May 30, 2007 Share Posted May 30, 2007 dont really care as long as they make it better and not worse http://www.last.fm/user/guju900/ Link to comment https://www.neowin.net/forum/topic/563983-music-site-lastfm-bought-by-cbs/#findComment-588591202 Share on other sites More sharing options...
Rappy Veteran Posted May 30, 2007 Author Veteran Share Posted May 30, 2007 Actually just looking at that article did Google pay ?82b for Youtube?!? Link to comment https://www.neowin.net/forum/topic/563983-music-site-lastfm-bought-by-cbs/#findComment-588591207 Share on other sites More sharing options...
Dick Montage Posted May 30, 2007 Share Posted May 30, 2007 Shame - will probably see it go downhill now! Link to comment https://www.neowin.net/forum/topic/563983-music-site-lastfm-bought-by-cbs/#findComment-588591222 Share on other sites More sharing options...
Martyn Posted May 30, 2007 Share Posted May 30, 2007 I really hope this does not have a negative impact on Last.fm, it is amazing as it is. Actually just looking at that article did Google pay ?82b for Youtube?!? I was wondering that myself, ?8,200,000,000 is a lot of money for a websit:p:p EDIT: I just checked, it was $1.65 billion, so quite a differenc;);) Link to comment https://www.neowin.net/forum/topic/563983-music-site-lastfm-bought-by-cbs/#findComment-588591236 Share on other sites More sharing options...
DJLunacy Posted May 30, 2007 Share Posted May 30, 2007 I seriously hope they don't drive it into the ground, and don't make any drastic changes. Link to comment https://www.neowin.net/forum/topic/563983-music-site-lastfm-bought-by-cbs/#findComment-588591250 Share on other sites More sharing options...
Rappy Veteran Posted May 30, 2007 Author Veteran Share Posted May 30, 2007 I really hope this does not have a negative impact on Last.fm, it is amazing as it is.I was wondering that myself, ?8,200,000,000 is a lot of money for a website:pp EDIT: I just checked, it was $1.65 billion, so quite a difference;)) Yeah I just went to report it to BBC and its been changed:shifty:: Link to comment https://www.neowin.net/forum/topic/563983-music-site-lastfm-bought-by-cbs/#findComment-588591345 Share on other sites More sharing options...
Techno_Funky Posted May 30, 2007 Share Posted May 30, 2007 Hope us free members dont suffer. :| Link to comment https://www.neowin.net/forum/topic/563983-music-site-lastfm-bought-by-cbs/#findComment-588591580 Share on other sites More sharing options...
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