New York Times

(NYT) - Get Report

said Monday that it acquired a film and television online database and research service in a bid to boost its online presence and broaden its entertainment offerings.

The newspaper group said its $35 million cash deal to buy Baseline StudioSystems from

Hollywood Media

(HOLL)

will reduce earnings in 2006 and 2007, but should add to its profits in 2008.

Baseline's revenue is expected to be around $6 million this year.

"We are very excited about this acquisition, which underscores our strategy to pursue leadership positions in the digital space and in key content categories," Janet Robinson, president and chief executive of New York Times, said in a statement. "It supports our plan to build the authoritative online destination for the entertainment consumer and for the industry."

Under Times' ownership, Baseline's operations will remain in Santa Monica, Calif., with its current leadership, Rafi Gordon and Alex Amin.