Originally Posted By: BBC News
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.

I can see there will be a lot of indie net radio stations bought over the next few years given the current problems over licensing laws etc..

BBC News Report