Monday, August 28, 2006
New York Times Acquires Information Provider For $35M
The New York Times has acquired Santa Monica-based Baseline StudioSystems, an information provider that provides an online database and research service for information on the film and television industries. The deal was worth $35M in cash. Baseline supplies proprietary entertainment information to Hollywood, and was owned by Hollywood Media Corp. According to the companies, Baseline is expected to have revnues of $6M in 2006. Hollywood Media was advised by J.P. Morgan Securities and Gotshal & Manges LLP in the transaction.