HandHeld Entertainment acquires YourDailyMedia.com

Mobile media products and services developer HandHeld Entertainment continued its holiday shopping spree, adding user-generated content aggregator YourDailyMedia.com to its list of recent acquisitions including Dorks.com and FunMansion.com. HandHeld will pony up $1.06 million for YourDailyMedia.com: $200,000 in cash payable in January 2007, $60,000 in cash payable during the next 12 months and a five-year $800,000 note which can be converted into shares of HandHeld common stock. The deal expands Handheld's video content library to nearly 11,000 titles, including music videos, anime and independent films from companies spanning from Sony BMG to the Canadian Broadcasting Corp.

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