CBS ups social networking ante with acquisition

Acquisition puts CBS in the social networking game

In another move to build out its social networking presence, CBS announced Wednesday that it has acquired Ltd., a social network for music fans, for $US280 million in cash.

London-based, which claims 15 million active users in 200 countries, allows users to create communities of interest that include both listeners and musicians. The site includes a social recommendation engine that builds a profile of each listener's tastes and provides links to other users with similar tastes. The site, which was founded in 2002, also provides custom radio streams.

The move is the latest in a string of announcements by CBS in recent months to build out its social networking offerings. Just last week the company announced that its CBS Interactive unit has partnered with a slew of Web sites and social application vendors to allow their users to incorporate CBS clips into their personal profiles, Web sites, blogs, widgets and community pages.

The CBS moves follow a March announcement by rivals NBC and News Corp. about plans to jointly create a video sharing site like the popular YouTube site.

The user demographics meld with CBS' goal of attracting younger viewers and listeners across its business lines, said Leslie Moonves, president and CEO of CBS. " adds a terrific interactive extension to all of our properties and also is a huge step in CBS Corp.'s overall strategy of expanding our reach online to transition from a content company into an audience company," he said in a statement.

Quincy Smith, president of CBS Interactive, said the company looked at multiple different acquisition possibilities as a base to expand its online reach., he added, is "balancing fast growth, a sticky community and the opportunity for monetization that does not distract the user."

The founders of will continue to independently run the social network, CBS said.

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Heather Havenstein

Show Comments

Brand Post

Most Popular Reviews

Latest Articles


PCW Evaluation Team

Tom Pope

Dynabook Portégé X30L-G

Ultimately this laptop has achieved everything I would hope for in a laptop for work, while fitting that into a form factor and weight that is remarkable.

Tom Sellers


This smart laptop was enjoyable to use and great to work on – creating content was super simple.

Lolita Wang


It really doesn’t get more “gaming laptop” than this.

Jack Jeffries


As the Maserati or BMW of laptops, it would fit perfectly in the hands of a professional needing firepower under the hood, sophistication and class on the surface, and gaming prowess (sports mode if you will) in between.

Taylor Carr


The MSI PS63 is an amazing laptop and I would definitely consider buying one in the future.

Christopher Low

Brother RJ-4230B

This small mobile printer is exactly what I need for invoicing and other jobs such as sending fellow tradesman details or step-by-step instructions that I can easily print off from my phone or the Web.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?