Vancouver’s MetroLyrics acquired by CBS Interactive Music Group

Update: CBS has confirmed with a press release today.

Techvibes is at the Banff Venture Forum over the next two days and some of Canada’s smartest entrepreneurs have descended on this resort town along with venture capitalists from across Canada and south of the border.

One of the by-products of having so many Silicon Valley venture capitalists in one place at one time is that there is a fair amount of chatter.

At the GROW 2011 Conference Techvibes confirmed a week later.

Today we have a similar story. Word on the street (or at least at the Fairmont Banff Springs Hotel) is that Vancouver’s MetroLyrics has been acquired by CBS Interactive Music Group. A quick glance at their site seems to confirm that fact as the site footer is clearly branded with CBS’s logo.

Founded in 2004 by SFU student entrepreneur Milun Tesovic and Alan Juristovski, MetroLeap Media is a provider of entertainment content within the music Internet market. Its flagship site, is the most trafficked lyrics site worldwide and has been on top of our Canada Startup Index for years.

MetroLyrics was the first lyrics dedicated site in the world to provide its users with a fully licensed database of complete and accurate song lyrics, ensuring artists, songwriters and music publishers are properly compensated for the use of their copyrighted work.

Congrats to the MetroLyrics team.