HandHeld Entertainment Acquires YourDailyMedia.com For $1.06 Million

Handheld Media continues to build traffic with acquisitions. This time it’s YourDailyMedia.com for $1.06 million — $200,000 in cash payable in January, $60,000 over the next 12 months and a five-year $800,000 note that can be converted into 186, 306 shares of common stock. (HandHeld trades on Nasdaq under the symbols ZVUE and ZVUEM.) The site, founded in 2005, claims more than 1.8 million monthly uniques and a library of 4,500-plus “edgy” user-gen/submitted videos plus other media selections. HandHeld hopes the combination of YourDailyMedia.com and recent puraches Dorks.com and FunMansion.com will bring in more than 5 million uniques this month. President and CEO Jeff Oscodar said the company is accelerating advertising and marketing as it builds its comedy network. Handheld seems to be trying everything: ZVUE handheld devices; premium downloads; pushing ad-supported free content. Its new Zapp media manager launched as a beta last week. Release.