Ownership Submission
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 *
  CCM MASTER QUALIFIED FUND LTD
2. Date of Event Requiring Statement (Month/Day/Year)
12/17/2007
3. Issuer Name and Ticker or Trading Symbol
HOLLYWOOD MEDIA CORP [HOLL]
(Last)
(First)
(Middle)
C/O MORGAN STANLEY FUND SERVICES (CAYMAN, LTD CENTURY YARD CRICKET SQ HUTCHINGS DR
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)

PO BOX 2681 GEORGE TOWN, E9 00000
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 3,368,992
D
 
Common Stock 3,368,992
I
By Coghill Capital Management, LLC and Clint D. Coghill (1)

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
Equity Swap 02/28/2006 02/28/2006 HOLL Common Stock 3,204,233 (2) $ 4.08 (2) D  
Equity Swap 02/28/2006 02/28/2008 HOLL Common Stock 3,204,233 (2) $ 4.08 (2) I By Coghill Capital Management, LLC and Clint D. Coghill (1)

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
CCM MASTER QUALIFIED FUND LTD
C/O MORGAN STANLEY FUND SERVICES (CAYMAN
LTD CENTURY YARD CRICKET SQ HUTCHINGS DR
PO BOX 2681 GEORGE TOWN, E9 00000
    X    
COGHILL CAPITAL MANAGEMENT LLC
1 N WACKER DR
STE 4350
CHICAGO, IL 60606
    X    
COGHILL CLINT D

 
    X    

Signatures

CCM Master Qualified Fund, Ltd 12/26/2007
**Signature of Reporting Person Date

Coghill Capital Managmeent LLC 12/26/2007
**Signature of Reporting Person Date

Clint D. Coghill 12/26/2007
**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 securities may be deemed to be beneficially owned by Coghill Capital Management, L.L.C. ("CCM"), the investment manager of CCM Master Qualified Fund, Ltd. (the "Master Fund"). These securities may also be deemed to be beneficially owned by Clint Coghill, the President and majority owner of CCM. Each of CCM and Mr. Coghill disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
(2) Under the terms of these total return equity swap agreements (the "Swaps") (i) the Master Fund will be obligated to pay to the counterparty any capital depreciation of the reference shares as of maturity, plus interest, and (ii) the counterparty will be obligated to pay to the Master Fund any capital appreciation of the reference shares as of maturity. Any dividends received by the counterparty on the reference shares during the term of the Swaps will be paid to the Master Fund. All balances will be cash settled at maturity and there will be no transfer of voting or dispositive power over the reference shares. $4.08 represents the notional value per share upon which the Swaps are based

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