Music

CBS has purchased Last.fm, a social-networking site devoted to music. What it plans to do with the site, however, isn't clear yet. With the $280 million deal, announced Wednesday, CBS has acquired a popular social-media technology: the music "scrobbling" engine developed by Last.fm that analyzes what its members listen to. Based on scrobbling results, Last.fm offers recommendations for members' playlists, creates personalized radio stations, and connects members with people who share similar tastes.

The deal continues the seemingly never-ending streak of tech acquisitions that traditional media companies have been pursuing as a way to boost their digital offerings. For example, News Corp., which purchased MySpace.com in 2005, said Wednesday that its Fox Interactive Media division has agreed to acquire image-sharing site Photobucket and slide show creator Flektor.

"It's an aggressive move. Last.fm is a really good service," Jupiter Research analyst David Card said of the CBS purchase. "Everybody has a slightly different experience, but they do a great job of integrating community with music discovery."