Business
Hollywood Media Advances Pay Date to March 29 for $0.45 per Share Special Distribution
Hollywood Media Advances Pay Date to March 29 for $0.45 per Share Special Distribution.
About this update from Novelstem International Corp.
[{"type":"text","content":"\n\n 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:\n    Special Distribution:   $0.45 per common shareRecord Date: Friday, March 23, 2018Pay Date: Thursday, March 29, 2018Ex-Dividend Date: Monday, April 2, 2018   Shares outstanding: 16,131,477Total 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. Forward-Looking StatementsStatements ...