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In January 2007 it was nominated for Best Website at the NME Awards.

At the end of April 2007, rumours of negotiations between CBS and emerged, suggesting that CBS intended to purchase for about £225 million.

(9 million USD) In May 2007 it was announced that Channel 4 Radio was to broadcast a weekly show called Worldwide Chart reflecting what users around the world were listening to.

On , it was announced that had been bought by CBS for £140 million with Last.fm's current management team staying in place.

The data is then displayed on the user's profile page and compiled to create reference pages for individual artists.

On 13 December 2012, it was announced that will discontinue radio service after January 2013 to subscribers in all countries except the United States, United Kingdom, Germany, Canada, Ireland, Australia, New Zealand and Brazil.

announced they would be discontinuing their streaming radio service on 28 April 2014.

This provoked a large negative reaction from some of the user community who perceive the removal as hindering the ability of lesser-known and unsigned artists to gain exposure for their music and general enjoyment of the site.

The change of 17 November 2010 means that a tag radio stream will include ALL music tagged as such, not just that tagged by each individual user: effectively widening the number of tracks that might be streamed under any one tag set.

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