The New York Times Company has announced the purchase of Baseline StudioSystems from Hollywood Media Corp, a company that provides news information and ticketing services to the movie industry. Baseline, which provides information and research services regarding the film and television industry, cost the Times Company a cool $35 million. Baseline provides industry information to several movie and TV studios as well as to non-professionals on a paid subscription basis.
“We are very excited about this acquisition, which underscores our strategy to pursue leadership positions in the digital space and in key content categories,” said New York Times Company CEO Janet L. Robinson in a statement. “It supports our plan to build the authoritative online destination for the entertainment consumer and for the industry.”
The New York Times Co. believes the Baseline acquisition will integrate well with its existing web properties (the company bought About.com in 2005 as part of a $410 million deal). Baseline will also provide additional entertainment-based content for NYTimes.com, and open up new advertising channels in the process. The Times Company expects Baseline to bring in about $6 million this year alone.