TechCrunch reports that last.fm has just been bought by CBS for $280 million.

The article’s comments include the usual warnings about frothiness. However, I’d say the price is cheap and rather justified considering the time, efforts, and most importantly, the breadth of what last.fm offers… it’s rather unique out there as a music-taste social network.

Personally? I’m impressed by the move. It’s an important and wise move by the CBS folks to “get in on the game”… kudos to the team that devised this strategy. I think it will be a move of lasting value.