Last.fm acquired by CBS Corporation for $280 Million

Last.fm, the popular London-based music recommendation social networking web site, was acquired for U.S. $280 Million by CBS Corporation.

The web site claims over 15 million active users. Its London base is important strategically for a company operating in the music space, as the legalities of Internet music business differ in some respects than in the United States.

For more, see http://news.bbc.co.uk/1/hi/technology/6701863.stm for the story.