London - Viacom is currently in talks to acquire London-based online social music network Last.fm for a rumored purchase price of $450 million, DealBreaker.com reported, citing "a music business source familiar with the negotiations."

Last.fm operates a streaming radio service and social network, where members can allow software to monitor what songs they listen to in iTunes or other media players. The service then creates a customized radio station that recommends songs streamed from other members' computers.

The service also offers community features that match users based on musical tastes.

Last.fm signed a deal with Warner Music Group in February, which allows the label's entire catalog to stream on Last.fm; the company said at the time it was in similar negotiations with the other major labels.

Related Links:
http://www.dealbreaker.com/2007/02/the_rumor_mill_lastfm_being_pi.php

http://www.viacom.com

http://www.last.fm