The New York Times has sold the film and television database Baseline StudioSystems to Project Hollywood, the company announced late on Friday.
Terms of the deal were not disclosed, but the New York Times is believed to have paid a fraction of the $35 million it spent to acquire the site in August 2006 from the very same owner. The fact that the news was announced as the Yom Kippur holiday dawned was probably indicative of that.
Mitch Rubinstein and Laurie Silvers of Hollywood Media Corp. sold Baseline to the New York Times in August 2006. Their new company, Project Hollywood LLC, was the buyer on Friday.
Neither side commented in the terse news release.
Baseline, a database with comprehensive film and television development data, is one of the entertainment industry's least publicly-known but widely used tools. But it has been challenged by digital upstarts such as IMDb, with its user-generated database.
The company has been up for sale for the better part of the year with a number of potential buyers sniffing around the entertainment industry database before ultimately passing.
The New York Times, which has struggled as the news industry has been destabilized by the Internet, sought to sell the database as a non-core asset.
Last quarter, the Times reported net losses of nearly $120 million, citing overall declines in print advertising.