Entertainment news outlet Hollywood Media Corp has agreed to buyLos Angeles-based database and information services Studio Systems.

The new company will be called Baseline StudioSystems, integratingHollywood Media Corp's Baseline/Filmtracker subsidiary with the new acquisitionto create a database of worldwide film and televisiondata.

Subject to regulatory approval, the acquisition includes HollywoodMedia Corp's aggregate cash payments of approximately $4.5m and issuance of shares of Hollywood Media Corp's common stock valued at $250,000.

Hollywood MediaCorp intends to fund the cash portion of the closing payments with cash onhand, and expects to close on or about Jun 30.