CBS Buys Last.fm For $280 Million
CBS has bought Last.fm, the community-based music-recommendation network, for $280 million in cash. The purchase follows CBS’ recent interest in more interactive companies, including Wallstrip.com, Joost and Spot Runner. Since its launch in 2002, Last.FM has grown as a online music service that allows fans with similar tastes to connect. The London-based service has more than 15 million active users in over 200 countries, and...
Sony/ATV To Buy Famous Music Catalog From Viacom
Sony/ATV is set to announce the purchase of Viacom’s Famous Music publishing unit. Leaked details reveal the Famous catalog of roughly 12,500 works will sell for close to $370 million. The Famous Music collection includes tracks from Eminem and scores to many big films including The Godfather and Mission: Impossible. Viacom originally purchased the publishing unit from Paramount Pictures.
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