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Hollywood Media Corp. (HOLL) Divests

Hollywood Media Corp. (NASDAQ: HOLL) sold off its and television properties for a starstruck $10 million. R&S Investments bought both through earn-out payments. The company is owned by Laurie S. Silvers and Mitchell Rubenstein, the Chairman and CEO of Hollywood Media.

Hollywood Media provides entertainment and media news, information and ticketing services. Revenue from businesses represented about 4 percent of Hollywood Media’s total revenue over the last 12 months, states a company news release. But it also generated a net loss of approximately $2.5 million.

“Hollywood Media plans to focus on its profitable online Broadway Ticketing business (including, which currently has an approximate 10 percent share of the Broadway ticket market,” the company reports. “Hollywood Media also owns the UK-based CinemasOnline and a minority interest in

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