Boca Raton, Fla. - Hollywood Media Corp., a provider of news, information and ticketing for entertainment and media industries, has acquired the ticketing business of Showtix, a New York-based ticket agency for Broadway and off-Broadway performances.

Terms of the deal include $2.6 million in cash, plus up to $370,000 payable over the next five years if certain performance targets are met.

Showtix sold approximately 225,000 tickets in 2006, and Hollywood Media said that it expects the transaction to have a positive affect on its bottom line in 2007.

Showtix business will be integrated into Boca Raton, Fla.-based Hollywood Media's Theatre Direct International subsidiary.

Patricia Daily, president and founder of Showtix, has entered into a five-year employment agreement with Theatre Direct.

Related Links:

http://www.hollywood.com/corporate_profile/press_releases

http://www.showtixinc.com