Hollywood Media Corp. divests Hollywood.com for $10 million
Hollywood Media Corp. has sold its Hollywood.com and Hollywood.com Television businesses to R&S Investments, LLC, an entity owned by Mitchell Rubenstein and Laurie S. Silvers for $10 million. The purchase price includes $1 million paid out to Hollywood Media and earn-out payments of $9 million.
Hollywood Media plans to focus on its profitable online Broadway Ticketing business (including Broadway.com), which currently has an approximate 10 percent share of the Broadway ticket market. Hollywood Media also owns the UK-based CinemasOnline and a minority interest in MovieTickets.com.
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