The popular social music site Last.fm has been purchased by CBS for $280 million. The site which allows users to log their music listening habits and find music has 15 million users, including many of you..

According to the BBC report, the company will continue to be run independently so day-to-day operations and features shouldn't be affected too dramatically. The news is also interesting because it represents one of the few significant social networking success stories for a company located outside of the United States.