FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person *   Shannon River Partners II, LP 2. Date of Event Requiring Statement (Month/Day/Year) 12/31/2008 3. Issuer Name and Ticker or Trading Symbol HOLLYWOOD MEDIA CORP [HOLL] (Last) (First) (Middle) 800 THIRD AVENUE, 30TH FLOOR 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below) 5. If Amendment, Date Original Filed(Month/Day/Year) (Street) NEW YORK, NY 10022 6. Individual or Joint/Group Filing(Check Applicable Line) ___ Form filed by One Reporting Person _X_ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5) Common Stock 447,426 D (1)   Common Stock 1,844,114 I See Footnote (2) Common Stock 180,374 I See Footnote (3) Common Stock 651,946 I See Footnote (4)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Shannon River Partners II, LP 800 THIRD AVENUE, 30TH FLOOR NEW YORK, NY 10022	Â	  X	Â	Â
SHANNON RIVER PARTNERS LP 800 THIRD AVENUE, 30TH FLOOR NEW YORK, NY 10022	Â	  X	Â	Â
Doonbeg Fund LP 800 THIRD AVE NEW YORK, NY 10022	Â	  X	Â	Â
Shannon River Fund Management CO LLC 150 EAST 52ND STREET NEW YORK, NY 10022	Â	  X	Â	Â

Signatures

SHANNON RIVER PARTNERS, LP By: Shannon River Capital Management, LLC General Partner By: /s/ Spencer Waxman, Spencer Waxman, Managing Member		06/15/2009
**Signature of Reporting Person		Date
SHANNON RIVER PARTNERS II, LP By: Shannon River Capital Management, LLC General Partner: /s/ Spencer Waxman, Spencer Waxman, Managing Member		06/15/2009
**Signature of Reporting Person		Date
DOONBEG FUND, LP By: Doonbeg Capital Management, LLC, General Partner By: /s/ Spencer Waxman, Spencer Waxman, Managing Member		06/15/2009
**Signature of Reporting Person		Date
SHANNON RIVER PARTNERS LTD By: Shannon River Global Management, LLC, Investment Advisor By: /s/ Spencer Waxman, Spencer Waxman, Managing Member		06/15/2009
**Signature of Reporting Person		Date
SHANNON RIVER FUND MANAGEMENT CO., LLC By: /s/ Spencer Waxman, Spencer Waxman, Managing Member		06/15/2009
**Signature of Reporting Person		Date
SHANNON RIVER GLOBAL MANAGEMENT, LLC By: /s/ Spencer Waxman, Spencer Waxman, Managing Member		06/15/2009
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	These shares are owned directly by Shannon River Partners, LP ("SR Partners LP"). Shannon River Fund Management Co LLC ("SRFM") as the sole investment manager of SR Partners LP has an indirect beneficial ownership interest in the shares that SR Partners LP directly beneficially owns. Mr. Waxman, as a principal executive officer of SRFM has an indirect beneficial ownership interest in the shares that SR Partners II LP directly beneficially owns.
(2)	SR Partners LP has an indirect beneficial ownership interest in these shares, which are owned directly by Shannon River Partners II, LP ("SR Partners II LP") as members of a group under Section 13(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). SRFM as the sole investment manager of SR Partners II LP has an indirect beneficial ownership interest in the shares that SR Partners II LP directly beneficially owns. Mr. Waxman, as a principal executive officer of SRFM has an indirect beneficial ownership interest in the shares that SR Partners II LP directly beneficially owns.
(3)	SR Partners LP has an indirect beneficial ownership interest in these shares, which are owned directly by Doonbeg Fund, LP ("Doonbeg") as members of a group under Section 13(d) of the Exchange Act. SRFM as the sole investment manager of Doonbeg has an indirect beneficial ownership interest in the shares that Doonbeg directly beneficially owns. Mr. Waxman, as a principal executive officer of SRFM has an indirect beneficial ownership interest in the shares that Doonbeg directly beneficially owns.
(4)	SR Partners LP has an indirect beneficial ownership interest in these shares, which are owned directly by Shannon River Partners LTD ("SRP LTD") as members of a group under Section 13(d) of the Exchange Act. Shannon River Global Management LLC ("SRGM") as the sole investment manager of SRP LTD has an indirect beneficial ownership interest in the shares that SRP LTD directly beneficially owns. Mr. Waxman, as a principal executive officer of SRGM has an indirect beneficial ownership interest in the shares that SRP LTD directly beneficially owns.

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