Thursday, May 17th, 2012
Big media is on an acquisition fest – buying as many hot properties as possible to impress brands and increase their take at the upfronts.
Within the last 3 weeks:
- CBS acquired last.fm for $280 million, a music-oriented site with 15 million dedicated users that builds communities around different genres by targeting listeners, artists and labels and helps pair up users with similar tastes.
- CBS (1 week prior) purchased WallStrip.com
- CBS other recent investments include Joost & Spot Runner.
- Fox (as expected) acquired Photobucket, the photo-sharing/posting site for $250 million
- Fox also purchased Flecktor – similar tools for myspace.
Why all of the positioning by big media? Brands are getting savvy and their CMO’s are getting younger. Younger means more attention to the Internet.
