“It’s a bummer.”
CBS paid $280m in 2007 for Last.fm, an online music service and community now used by over 37m people a month. It remains one of the UK’s biggest buyouts in the web 2.0 era and Last.fm is still a fixture of London’s Silicon Roundabout.
Yet Mr Smith was magnanimous as three darlings of the web scene left CBS Interactive, which as a whole generated revenues of over $600m last year. Read more