Last.fm Purchased by CBS!

That’s right. That free British web-based radio station that allows for user profiles, charts and statistics was sold today for $280 million (cash).

Read the official release from the Last.HQ blog here. The entry provides a variety of solid reasons for the sale.

Similarly, readwriteweb.com’s entry on the purchase of this Web 2.0 site outlines some of the reasons why CBS was likely so interested in the purchase.

Well… at least they note to not panic - none of that “OH NOES UR SELLIN MY SCROBBLES!!1!!” stuff will be going on here.