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Businesses

Submission + - Last.fm bought by CBS

Tabernaque86 writes: The BBC has an article up over the recent purchase of internet radio site Last.fm by US media giant CBS. ( http://news.bbc.co.uk/1/hi/technology/6701863.stm ). The purchase of the on-line social network has set a record for the largest ever UK web 2.0 acquisition, at $280 million USD.

What's interesting that the article fails to address why CBS is purchasing Last.fm now, considering the Royalty Board is increasing internet radio fees to an exhorbitant amount, which is more-or-less causing internet radio to shut down by then end of next month.

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