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diff --git a/old/published/Webmonkey/Monkey_Bites/2007/05.29.07/Wed/cbslastfm.txt b/old/published/Webmonkey/Monkey_Bites/2007/05.29.07/Wed/cbslastfm.txt new file mode 100644 index 0000000..c3adbdf --- /dev/null +++ b/old/published/Webmonkey/Monkey_Bites/2007/05.29.07/Wed/cbslastfm.txt @@ -0,0 +1,16 @@ +CBS announced late yesterday that they have snapped up the popular music site Last.fm for a reported $280 million. But fear not Last.fm fans, the site will retain the present management team and its own separate identity. + +CBS's interest in the site stems from the community of users that Last.fm has built up over the years, and according the Last.fm [blog post on the deal][1], CBS will not mess with the site. + +"CBS understands the Last.fm vision, the importance we place on putting the listener in charge, the vibrant and vocal community, the obsession with music stats, and our determination to offer every song ever recorded," writes Last.fm's Richard Jones. + +And to alleviate user fears about a major media company suddenly having access to Last.fm user data, Jones adds, "don't panic." He goes on to assure users that "the openness of our platform and our approach to privacy won’t change." + +As for potential changes for users, Jones doesn't reveal any specific changes, but does point out that with CBS behind them, Last.fm will have more clout in negotiating deals with record companies. + +Last.fm has existing partnerships with record labels like EMI and Warner, but so far Last.fm hasn't made any aggressive moves toward selling music through the site. Although no announcements have been made it seems reasonable to assume that that may change with CBS at the helm. + +As for CBS's interest in Last.fm, CBS Chief Executive Leslie Moonves says in a [press release][2] about the deal, "their demographics also play perfectly to CBS' goal to attract younger viewers and listeners." + +[1]: http://blog.last.fm/2007/05/30/lastfm-acquired-by-cbs "Last.fm Acquired By CBS" +[2]: http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/05-30-2007/0004597909&EDATE= "CBS Corporation Acquires Last.fm"
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