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February 26, 2007
Huge London Deal In Works?: Viacom Might Buy LastFM
Dealbreaker has been reporting that Viacom is negotiating with LastFM on a $450M purchase and Vecosys says it was the talk of a recent confab in London that LastFM spoke at. LastFM recently signed a deal with Warner Music Group giving the internet radio station the rights to play WMG's entire music catalog.
LastFM monitors the music that each user listens to and accordingly recommends music that the user might enjoy. The site also allows music fans with similar tastes to communicate and share their playlists.
The site also provides an ad-supported stream of the music from the hundreds of independent labels it has deals with. It tends to get great user reviews.
Financial backers include VC Joi Ito together with Reid Hoffman, CEO of LinkedIn and Stefan Glänzer, CEO of 20six Weblog Services AG in the UK.
Read - The Rumor Mill: LastFM Being Picked Up By Viacom (Dealbreaker)
Posted on February 26, 2007 04:36 PM | Posted to Media | Permalink
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