Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN 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 LP
   2. Issuer Name and Ticker or Trading Symbol
HOLLYWOOD MEDIA CORP [HOLL] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
800 THIRD AVENUE, 30TH FLOOR, 		 3. Date of Earliest Transaction (Month/Day/Year)
09/29/2010
(Street)

NEW YORK, NY 10022		 4. If Amendment, Date Original Filed(Month/Day/Year)
 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 Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 09/29/2010   S   447,426 D $ 1.1383 0 D (1)  
Common Stock 09/29/2010   S   1,844,114 D $ 1.1383 0 I See Footnote (2)
Common Stock 09/29/2010   S   180,374 D $ 1.1383 0 I See Footnote (3)
Common Stock 09/29/2010   S   651,946 D $ 1.1383 0 I See Footnote (4)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) 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 LP
800 THIRD AVENUE, 30TH FLOOR
NEW YORK, NY 10022		     X    
Shannon River Partners II, LP
800 THIRD AVENUE, 30TH FLOOR
NEW YORK, NY 10022		     X    
Doonbeg Fund LP
800 THIRD AVE
NEW YORK, NY 10022		     X    
Shannon River Fund Management CO LLC
150 EAST 52ND STREET
NEW YORK, NY 10022		     X    
WAXMAN SPENCER M.
C/O SHANNON RIVER PARTNERS
800 THIRD AVENUE 30TH FLOOR
NEW YORK, NY 10022		     X    

Signatures

 SHANNON RIVER PARTNERS, LP By: Shannon River Capital Management, LLC General Partner By: /s/ Spencer Waxman, Spencer Waxman, Managing Member   10/01/2010
**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   10/01/2010
**Signature of Reporting Person Date
 DOONBEG FUND, LP By: Doonbeg Capital Management, LLC, General Partner By: /s/ Spencer Waxman, Spencer Waxman, Managing Member   10/01/2010
**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   10/01/2010
**Signature of Reporting Person Date
 SHANNON RIVER FUND MANAGEMENT CO., LLC By: /s/ Spencer Waxman, Spencer Waxman, Managing Member   10/01/2010
**Signature of Reporting Person Date
 SHANNON RIVER GLOBAL MANAGEMENT, LLC By: /s/ Spencer Waxman, Spencer Waxman, Managing Member   10/01/2010
**Signature of Reporting Person Date
 /s/ Spencer Waxman, Spencer Waxman, Individually   10/01/2010
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(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.
 
Remarks:
Mr. Waxman disclaims beneficial ownership of the securities described in this statement, except to the extent of his
 individual pecuniary interest in such securities.  The filing of this statement shall not be deemed an admission that Mr.
 Waxman is, for purposes of Section 16 of the Exchange Act or otherwise, the beneficial owner of any securities specified in
 this statement.

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