By: E&P Staff The New York Times Co. announced today the acquisition of Baseline StudioSystems from Hollywood Media Corp for $35 million in cash.
Baseline StudioSystems provides proprietary entertainment information on a subscription basis to studio and television production companies and other entertainment-oriented business. For example, a subscriber can access information concerning the representation of actors. Baseline also licenses and syndicates content to other Web sites.
"This acquisition continues the diversification of our online revenue base, thanks to Baseline's reliable and growing subscription base and syndication/licensing business," Janet Robinson, president and CEO of the New York Times Co., said in a statement. "It supports our plan to build the authoritative online destination for the entertainment consumer and for the industry.
Entertainment companies pay Baseline an annual subscription fee negotiated on how many employees access to the database.
Revenues for Baseline (which is profitable) are expected to be approximately $6 million in 2006.
?Baseline?s content aligns well with all of our Internet properties, particularly NYTimes.com which already has a strong entertainment franchise on the Web," Robinson added. " It will provide NYTimes.com with enhanced content offerings and improved adverting opportunities in its popular entertainment vertical.?
Baseline will remain in Santa Monica, Calif., as a separate unit under the New York Times Media Group. Its current leaders Rafi Gordon and Alex Amin will report to Vivian Schiller, senior vice president and general manager of NYTimes.com.
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