The New York Times Company announced that it has completed the acquisition of Baseline StudioSystems, an online database and research service for information on the film and television industries, from Hollywood Media Corp. for $35.0 million in cash.

The acquisition "underscores our strategy to pursue leadership positions in the digital space and in key content categories," Janet L. Robinson, president and CEO of the New York Times Company, said in a statement. "This acquisition continues the diversification of our online revenue base…. It supports our plan to build the authoritative online destination for the entertainment consumer and for the industry."

Baseline is the primary supplier of proprietary entertainment information in Hollywood and has a growing syndication/licensing business that provides nonprofessional entertainment information to consumer-oriented websites.

"Baseline's content aligns well with all of our internet properties, particularly NYTimes.com, which already has a strong entertainment franchise on the Web. It will provide NYTimes.com with enhanced content offerings and improved advertising opportunities in its popular entertainment vertical," Robinson said.

Baseline's database has more than 1.5 million records with a vast array of facts, analysis, statistics, news, contacts and trends on the entertainment industry. Revenues for Baseline are expected to be approximately $6 million in 2006, and its operations are highly profitable, the companies said.

Baseline's operations will remain in Santa Monica, Calif., under its current leadership, Rafi Gordon and Alex Amin. It will be a separate unit reporting to Vivian Schiller, senior vice president and general manager of NYTimes.com, and will be part of The New York Times Media Group.