Les Moonves' digital build up

Media execs better keep a close eye on CBS big eye Les Moonves because the man is slowly building up CBS's digital capabilities. Last week the company announced that it purchased Wall Street video blog WallStrip.com and now about a week later they are announcing that they are swallowing LastFM.com. How CBS will utilize the site to distribute its content if at all is not yet clear but we're sure Les and company will think of something. After all there is CBS Records. CBS Corp said on Wednesday it had paid $280 million in cash for the popular music social network service Last.fm.CBS said in a statement the online service had more than 15 million active users in more than 200 countries and would fit well with its plans to attract younger viewers and transform it from a content company to an audience company. CBS buys online music network Last.fm [Reuters]