Last.fm bought by CBS

Last.fm has been bought by CBS for $280 million, continuing the trend of media companies diversifying their holdings via owning social networking sites, much like News Corp. purchasing Myspace.com for a cool $580 million and Google buying YouTube.com for $1.65 billion. chump change.

"Last.fm founding member Martin Stiksel said it was an "exciting opportunity". 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. 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." "
-BBC News

i think it's a blatant lie to say that CBS won't impart some of it's vast (and i mean VAST) influence on "little 'ole music keeper-upper so your friends know what your listening to too omg!" last.fm. specifically, every advertisement, "artist in spotlight", new album promotion, undoubtedly will be CBS affiliated/owned artists.

here's a look at CBS' current holdings. courtesy of freepress.net
it becomes obvious that maybe one of the Top 5 media conglomerates continually buying more companies is probably not the best thing.

2005 revenues: $14.5 billion
CBS Corporation owns the CBS Television Network, UPN, Showtime, book publisher Simon & Schuster, 41 television stations, Infinity (now CBS) Radio, Inc., and theme parks such as Paramount’s Kings Dominion.

Networks: CBS Television Network, UPN, Showtime Networks, Inc. (SNI) owns Showtime, The Movie Channel, Flix, Showtime Too, Showtime Showcase, Showtime Extreme, Showtime Beyond, Showtime Next, Showtime Women, Showtime Familyzone, TMC XTRA, Showtime HD, The Movie Channel HD, Showtime on Demand, Sundance Channel (joint venture, SNI owns 30%), Showtime PPV, CBS Entertainment, CBS News, CBS Sports, CSTV Networks, Inc.

CBS Television Stations Group: consists of 41 stations in 27 markets, featuring affiliates of CBS, UPN, WB and a small number of independents as of the end of 2005. (A search tool for stations can be found at their corporate web site. An overview can be found here.)

Programming: The Early Show, 60 Minutes, 48 Hours, Face the Nation, CW Network (50% with Time Warner), CBS Paramount TV, Spelling Television, King World.

Subsidiary Infinity Radio, Inc. (to be re-branded CBS Radio) owns 178 radio stations as of the end of 2005. A full list is available via their corporate web site. CBS also owns the CBS Radio Network

Books:
Simon & Schuster: Atria Books, Kaplan, Pocket Books, Scribner, Simon & Schuster, The Free Press, The Touchstone, Fireside Group

Simon & Schuster Children’s Publishing: Aladdin Paperbacks, Atheneum Books for Young Readers, Little Simon, Margaret K. McElderry Books, Simon & Schuster Books for Young Readers, Simon Pulse, Simon Spotlight

Other Publishing: Simon & Schuster New Media, Simon & Schuster Online, Simon & Schuster UK, Simon & Schuster Australia, MTV Books

Internet: CBS Digital Media Group, CBS.com, CBSNews.com, UPN.com, SportsLine.com, NFL.com, NCAAsports.com, PGATour.com, Sho.com, Innertube, CSTV.com

Theme parks: owns Paramount’s Carowinds, Paramount’s Great America, Paramount’s Kings Dominion, Paramount’s Kings Island, Paramount’s Canada’s Wonderland, CBS Outdoor, CBS Consumer Products, and Star Trek: The Experience (themed attraction at Las Vegas Hilton) and manages Bonfante Gardens horticultural theme park (Gilroy, CA) and CBS Television City at the MGM Grand Hotel & Casino (Las Vegas, NV).