Viacom buying Last.fm
I don't believe that Viacom has the moral integrity to run last.fm adequately. If Viacom does buy it, I may stop using it. I've seen what they are doing to YouTube, and I am not interested in having Last.fm butchered. Viacom is old media at its finest, and I'm sure they will change it in some unpalatable way:
Some murmuring in the UK this this week says that Viacom is continuing its negotiations to buy Last.fm for approximately $450 million – a huge sum, but partly justified by the fact that Last.fm is really the ?YouTube of music? these days.
The royalty rate hike for online radio stations in the US, which is now being countered by a bill that aims to overturn it, doesn?t seem to have affected the purchase price.
Based on a corroborating story from DealBreaker earlier this week, I guess we can upgrade this one from ?vague rumor? to ?possibility?. More details appreciated.
I hope this doesn't happen. I really like last.fm and the last thing I want to see is it turn into something awful.