BOCA RATON, Fla., March 15, 2018 (GLOBE NEWSWIRE) -- Hollywood Media Corp. (OTC Pink:HOLL) today provided updated timing for the record date, pay date and ex-dividend date for its previously announced special $0.45 per share cash distribution to shareholders. The distribution is expected to be classified as a return of capital for tax purposes. The updated distribution details, which were revised in light of the market holiday on March 30, 2018, are as follows:
|Special Distribution:||$0.45 per common share|
|Record Date:||Friday, March 23, 2018|
|Pay Date:||Thursday, March 29, 2018|
|Ex-Dividend Date:||Monday, April 2, 2018|
|Total Special Distribution:||$7.26 million|
About Hollywood Media (www.hollywoodmedia.com)
Hollywood Media Corp. owns a 50% interest in Netco Partners, a joint venture that owns the Net Force publishing franchise, which delves into the thrilling and fast-paced worlds of digital crimes, espionage and crypto-currencies. Hollywood Media plans to relaunch Net Force with new books starting in early 2019.
A story-arc outline for an additional five Net Force books has been completed and the manuscripts for the first two books in the franchise reboot have already been written. A literary agent has been retained to seek publishers to publish these books in four formats – hardcover, eBooks, streaming audio books and podcast editions -- at an anticipated rate of one book launch every 9-12 months.
The initial series of ten Net Force books was published in paperback between 1999 and 2006. Each was a New York Times Bestseller, millions of copies were sold worldwide, and Net Force was also the subject of a TV miniseries on ABC. Cash distributions to Hollywood Media of licensing fees from the Net Force franchise have totaled approximately $11.3 million.
The new Net Force is vastly expanded from its original status as a branch of the FBI. The series is now set in the near future where Net Force is a Cabinet-level department, integrating elite members of the Nation’s intelligence, law enforcement and scientific agencies with dedicated SpecialOps units from the armed services, to investigate digital crimes involving espionage and crypto-currencies.
Statements in this press release and its hyperlinks may be “forward-looking statements” within the meaning of federal securities laws. The matters discussed herein that are forward-looking statements are based on current management expectations that involve risks and uncertainties that may result in such expectations not being realized. Actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous potential risks and uncertainties, including, but not limited to, the results of the relaunch of the Net Force series and realizing anticipated revenues, the amount of sales of Net Force books, and cost efficiencies, the impact of potential future dispositions or other strategic transactions by Company, our ability to develop and maintain strategic relationships, our ability to compete with other media companies, technology risks, the volatility of our stock price, and other risks and factors. Such forward-looking statements speak only as of the date on which they are made
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Source:Hollywood Media Corp.