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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of report (Date of the earliest event
reported)&#9;May 1, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">______________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>HOLLYWOOD MEDIA CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in
Its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
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    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; border-bottom: Black 1pt solid">Florida</TD>
    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; border-bottom: Black 1pt solid">1-14332</TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; border-bottom: Black 1pt solid">65-0385686</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;(State or Other Jurisdiction of Incorporation)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Commission File Number)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(IRS Employer Identification No.)</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><BR STYLE="mso-special-character: line-break"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
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    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; border-bottom: Black 1pt solid">2255 Glades Road, Suite 221A, Boca Raton, Florida</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; border-bottom: Black 1pt solid">33431</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Address of Principal Executive Offices)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Zip Code)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(561) 998-8000</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s Telephone Number, Including
Area Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Not Applicable</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former Name or Former Address, if Changed
Since Last Report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 4%; font: 10pt Wingdings">&uml;</TD>
    <TD STYLE="font-size: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230 .425)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font: 10pt Wingdings">&uml;</TD>
    <TD STYLE="font-size: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font: 10pt Wingdings">&uml;</TD>
    <TD STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font: 10pt Wingdings">&uml;</TD>
    <TD STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION 1 - Registrant&rsquo;s Business and Operations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1.01 &#9;Entry into a Material Definitive Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On May 1, 2012, Hollywood Media Corp. (&ldquo;Hollywood Media&rdquo;)
entered into a share purchase agreement (the &ldquo;Purchase Agreement&rdquo;) with Orchard Advertising Limited (&ldquo;Buyer&rdquo;),
pursuant to which Hollywood Media sold, and Buyer purchased, the entire issued share capital of Cinemasource (the &ldquo;Purchased
Shares&rdquo;). There are no material relationships among Hollywood Media and Buyer or any of their respective affiliates other
than in respect of the Purchase Agreement and the related ancillary agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the Purchase Agreement, the purchase price for the
Purchased Shares is U.S. $250,000, payable in cash in twenty equal quarter-annual installments of U.S. $12,500 each over a period
of five years. Subject to the terms and conditions of the Purchase Agreement, the first installment of the purchase price is due
on July 31, 2012 and subsequent installments of the purchase price are due every three calendar months thereafter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The purchase price for the Purchased Shares is secured by a
lien on the Purchased Shares (and certain dividends, payments or other derivative assets received in respect of the Purchased
Shares) pursuant to the terms of the share charge deed, dated as of May&nbsp;1,&nbsp;2012, between Hollywood Media and Buyer (the
&ldquo;Share Charge Deed&rdquo;). Except as permitted by the Purchase Agreement, the Share Charge Deed also restricts Buyer from
(i) permitting any other lien to exist against the Purchased Shares (and certain dividends, payments or other derivative assets
received in respect of the Purchased Shares), (ii) selling or transferring the Purchased Shares (and certain dividends, payments
or other derivative assets received in respect of the Purchased Shares), and (iii) disposing of the equity of redemption in respect
of the Purchased Shares (and certain dividends, payments or other derivative assets received in respect of the Purchased Shares).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the event of (i) a transaction whereby any persons or group
of persons acting in concert purchase at least 80% of the Purchased Shares or at least 80% of the issued share capital of each
of the subsidiaries of Cinemasource or Buyer or (ii) a transaction whereby any person or group of persons acting in concert purchase
the whole or substantially the whole of the business and assets of Cinemasource and its subsidiaries (each, an &ldquo;Exit Event&rdquo;),
then (A) if the proposed purchaser in such Exit Event is a &ldquo;connected person&rdquo; to Buyer (as set forth in the Purchase
Agreement) or if the aggregate consideration payable to Buyer, Cinemasource and its subsidiaries, and/or the shareholders of Buyer
in respect of an Exit Event (the &ldquo;Subsequent Sale Proceeds&rdquo;) exceeds the balance of the purchase price remaining to
be paid by Buyer to Hollywood Media under the Purchase Agreement (the &ldquo;Balance&rdquo;), then the Balance shall become immediately
payable to Hollywood Media or (B) if the proposed purchaser is not a &ldquo;connected person&rdquo; to Buyer and the Subsequent
Sale Proceeds are less than the Balance, then Buyer will pay to Hollywood Media the amount of the Subsequent Sale Proceeds in lieu
of the Balance, unless Hollywood Media requests that the Purchased Shares are transferred back to Hollywood Media (and Buyer transfers
the Purchased Shares back to Hollywood Media) in satisfaction of the Balance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Cinemasource and its subsidiaries were part of Hollywood Media&rsquo;s
Ad Sales Division.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The foregoing summary of the Purchase Agreement and the Share
Charge Deed and the transactions contemplated by the Purchase Agreement and the Share Charge Deed do not purport to be complete
and are subject to, and qualified in their entirety by, the full text of the Purchase Agreement and the Share Charge Deed, each
of which are respectively filed as Exhibits 10.1 and 10.2 hereto and are incorporated by reference into this Current Report on
Form 8-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Purchase Agreement and the Share Charge Deed are described
in, and attached as exhibits to, this Current Report on Form 8-K only to provide investors and security holders with information
regarding their respective terms and conditions and not to provide any factual, business or operational information about Hollywood
Media or Buyer. Moreover, the Purchase Agreement and the Share Charge Deed contain representations and warranties made by Hollywood
Media to Buyer and representations and warranties made by Buyer to Hollywood Media as of specific dates. The assertions embodied
in those representations and warranties were made solely for the benefit of the parties to the Purchase Agreement and the Share
Charge Deed and may be subject to qualifications and limitations agreed to by the parties in connection with negotiating the terms
of the Purchase Agreement and the Share Charge Deed. Certain representations and warranties made in the Purchase Agreement and
the Share Charge Deed as of a specified date also may be subject to contractual standards of materiality different from those generally
applicable to shareholders, or may have been used for the purpose of allocating risk between the parties rather than establishing
matters as facts. In addition, information concerning the subject matter of the representations and warranties contained in the
Purchase Agreement or the Share Charge Deed may have changed since the date of the Purchase Agreement or the Share Charge Deed.
The representations and warranties in the Purchase Agreement and the Share Charge Deed (i) may not describe the actual state of
affairs as of the date they were made or at any other time and (ii) should not be read alone but instead should be read in conjunction
with the other information contained in the reports, statements and documents Hollywood Media publicly files with the SEC. Additional
information about Hollywood Media may be found in Hollywood Media&rsquo;s other public files, which are available without charge
through the SEC&rsquo;s website at <I>http://www.sec.gov</I> and on Hollywood Media&rsquo;s website at <I>http://www.hollywoodmedia.com</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION 9 - Financial Statements and Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9.01&#9;Financial Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&#9;<I>Financial Statements of Businesses Acquired.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b)&#9;<I>Pro Forma Financial Information.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(c)&#9;<I>Shell Company Transactions.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&#9;<I>Exhibits.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 17%; padding: 0; text-decoration: underline">Exhibit Number</TD>
    <TD STYLE="width: 83%; padding: 0; text-decoration: underline">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0">&nbsp;</TD>
    <TD STYLE="padding: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0">10.1</TD>
    <TD STYLE="padding: 0">Share Purchase Agreement, dated as of May&nbsp;1,&nbsp;2012, between Hollywood Media Corp. and Orchard Advertising Limited</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0">&nbsp;</TD>
    <TD STYLE="padding: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0">10.2</TD>
    <TD STYLE="padding: 0">Share Charge Deed, dated as of May&nbsp;1,&nbsp;2012, between Hollywood Media Corp. and Orchard Advertising Limited</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3.25in"></P>

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<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2"><B>Hollywood Media Corp.</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%">Date: <B> May 7, 2012</B>&nbsp;</TD>
    <TD STYLE="width: 4%">By:&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 46%"><B>/s/ Mitchell Rubenstein&#9;</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: #000000 1px solid">Name: Mitchell Rubenstein<BR>Title: Chief Executive Officer</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 6pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 17%; padding: 0; text-decoration: underline">Exhibit Number</TD>
    <TD STYLE="width: 83%; padding: 0; text-decoration: underline">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0">&nbsp;</TD>
    <TD STYLE="padding: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0">10.1</TD>
    <TD STYLE="padding: 0">Share Purchase Agreement, dated as of May&nbsp;1,&nbsp;2012, between Hollywood Media Corp. and Orchard Advertising Limited</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0">&nbsp;</TD>
    <TD STYLE="padding: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0">10.2</TD>
    <TD STYLE="padding: 0">Share Charge Deed, dated as of May&nbsp;1,&nbsp;2012, between Hollywood Media Corp. and Orchard Advertising Limited</TD></TR>
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[{"type": "8-K", "sequence": "1", "filename": "v312160_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 27283}]
{"company-data": {"conformed-name": "HOLLYWOOD MEDIA CORP", "cik": "0000912544", "assigned-sic": "5990", "irs-number": "650385686", "state-of-incorporation": "FL", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-14332", "film-number": "12817898"}, "business-address": {"street1": "2255 GLADES RD", "street2": "STE 237 W", "city": "BOCA RATON", "state": "FL", "zip": "33431", "phone": "5619988000"}, "mail-address": {"street1": "2255 GLADES RD", "street2": "STE 237 W", "city": "BOCA RATON", "state": "FL", "zip": "33431"}, "former-company": [{"former-conformed-name": "HOLLYWOOD COM INC", "date-changed": "20000511"}, {"former-conformed-name": "BIG ENTERTAINMENT INC", "date-changed": "19930924"}]}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of the earliest event
reported)	May 1, 2012
______________________
HOLLYWOOD MEDIA CORP.
(Exact Name of Registrant as Specified in
Its Charter)
Florida
1-14332
65-0385686
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
2255 Glades Road, Suite 221A, Boca Raton, Florida
33431
(Address of Principal Executive Offices)
(Zip Code)
(561) 998-8000
(Registrant's Telephone Number, Including
Area Code)
Not Applicable
(Former Name or Former Address, if Changed
Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230 .425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
SECTION 1 - Registrant's Business and Operations
Item 1.01 	Entry into a Material Definitive Agreement.
On May 1, 2012, Hollywood Media Corp. ("Hollywood Media")
entered into a share purchase agreement (the "Purchase Agreement") with Orchard Advertising Limited ("Buyer"),
pursuant to which Hollywood Media sold, and Buyer purchased, the entire issued share capital of Cinemasource (the "Purchased
Shares"). There are no material relationships among Hollywood Media and Buyer or any of their respective affiliates other
than in respect of the Purchase Agreement and the related ancillary agreements.
Pursuant to the Purchase Agreement, the purchase price for the
Purchased Shares is U.S. $250,000, payable in cash in twenty equal quarter-annual installments of U.S. $12,500 each over a period
of five years. Subject to the terms and conditions of the Purchase Agreement, the first installment of the purchase price is due
on July 31, 2012 and subsequent installments of the purchase price are due every three calendar months thereafter.
The purchase price for the Purchased Shares is secured by a
lien on the Purchased Shares (and certain dividends, payments or other derivative assets received in respect of the Purchased
Shares) pursuant to the terms of the share charge deed, dated as of May 1, 2012, between Hollywood Media and Buyer (the
"Share Charge Deed"). Except as permitted by the Purchase Agreement, the Share Charge Deed also restricts Buyer from
(i) permitting any other lien to exist against the Purchased Shares (and certain dividends, payments or other derivative assets
received in respect of the Purchased Shares), (ii) selling or transferring the Purchased Shares (and certain dividends, payments
or other derivative assets received in respect of the Purchased Shares), and (iii) disposing of the equity of redemption in respect
of the Purchased Shares (and certain dividends, payments or other derivative assets received in respect of the Purchased Shares).
In the event of (i) a transaction whereby any persons or group
of persons acting in concert purchase at least 80% of the Purchased Shares or at least 80% of the issued share capital of each
of the subsidiaries of Cinemasource or Buyer or (ii) a transaction whereby any person or group of persons acting in concert purchase
the whole or substantially the whole of the business and assets of Cinemasource and its subsidiaries (each, an "Exit Event"),
then (A) if the proposed purchaser in such Exit Event is a "connected person" to Buyer (as set forth in the Purchase
Agreement) or if the aggregate consideration payable to Buyer, Cinemasource and its subsidiaries, and/or the shareholders of Buyer
in respect of an Exit Event (the "Subsequent Sale Proceeds") exceeds the balance of the purchase price remaining to
be paid by Buyer to Hollywood Media under the Purchase Agreement (the "Balance"), then the Balance shall become immediately
payable to Hollywood Media or (B) if the proposed purchaser is not a "connected person" to Buyer and the Subsequent
Sale Proceeds are less than the Balance, then Buyer will pay to Hollywood Media the amount of the Subsequent Sale Proceeds in lieu
of the Balance, unless Hollywood Media requests that the Purchased Shares are transferred back to Hollywood Media (and Buyer transfers
the Purchased Shares back to Hollywood Media) in satisfaction of the Balance.
Cinemasource and its subsidiaries were part of Hollywood Media's
Ad Sales Division.
The foregoing summary of the Purchase Agreement and the Share
Charge Deed and the transactions contemplated by the Purchase Agreement and the Share Charge Deed do not purport to be complete
and are subject to, and qualified in their entirety by, the full text of the Purchase Agreement and the Share Charge Deed, each
of which are respectively filed as Exhibits 10.1 and 10.2 hereto and are incorporated by reference into this Current Report on
Form 8-K.
2
The Purchase Agreement and the Share Charge Deed are described
in, and attached as exhibits to, this Current Report on Form 8-K only to provide investors and security holders with information
regarding their respective terms and conditions and not to provide any factual, business or operational information about Hollywood
Media or Buyer. Moreover, the Purchase Agreement and the Share Charge Deed contain representations and warranties made by Hollywood
Media to Buyer and representations and warranties made by Buyer to Hollywood Media as of specific dates. The assertions embodied
in those representations and warranties were made solely for the benefit of the parties to the Purchase Agreement and the Share
Charge Deed and may be subject to qualifications and limitations agreed to by the parties in connection with negotiating the terms
of the Purchase Agreement and the Share Charge Deed. Certain representations and warranties made in the Purchase Agreement and
the Share Charge Deed as of a specified date also may be subject to contractual standards of materiality different from those generally
applicable to shareholders, or may have been used for the purpose of allocating risk between the parties rather than establishing
matters as facts. In addition, information concerning the subject matter of the representations and warranties contained in the
Purchase Agreement or the Share Charge Deed may have changed since the date of the Purchase Agreement or the Share Charge Deed.
The representations and warranties in the Purchase Agreement and the Share Charge Deed (i) may not describe the actual state of
affairs as of the date they were made or at any other time and (ii) should not be read alone but instead should be read in conjunction
with the other information contained in the reports, statements and documents Hollywood Media publicly files with the SEC. Additional
information about Hollywood Media may be found in Hollywood Media's other public files, which are available without charge
through the SEC's website at
http://www.sec.gov
and on Hollywood Media's website at
http://www.hollywoodmedia.com
.
3
SECTION 9 - Financial Statements and Exhibits
Item 9.01	Financial Statements and Exhibits.
(a)
Financial Statements of Businesses Acquired.
Not applicable.
(b)
Pro Forma Financial Information.
Not applicable.
(c)
Shell Company Transactions.
Not applicable.
(d)
Exhibits.
Exhibit Number
Description
10.1
Share Purchase Agreement, dated as of May 1, 2012, between Hollywood Media Corp. and Orchard Advertising Limited
10.2
Share Charge Deed, dated as of May 1, 2012, between Hollywood Media Corp. and Orchard Advertising Limited
4
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Hollywood Media Corp.
Date:
May 7, 2012
By:
/s/ Mitchell Rubenstein
Name: Mitchell Rubenstein
Title: Chief Executive Officer
5
EXHIBIT INDEX
Exhibit Number
Description
10.1
Share Purchase Agreement, dated as of May 1, 2012, between Hollywood Media Corp. and Orchard Advertising Limited
10.2
Share Charge Deed, dated as of May 1, 2012, between Hollywood Media Corp. and Orchard Advertising Limited