HandHeld Entertainment (NASDAQ:ZVUE), a global digital-media-to-go
company, today announced the acquisition of Holylemon.com(TM), an
acquisition that continues to solidify HandHeld's position as one of
the largest online providers of user generated content in the European
market.
Holylemon.com, which is currently generating positive cash flow
through the placement of online banner and skyscraper ad sales,
features user-submitted and user-generated videos, pictures and games,
and attracted more than 1.1 million unique visitors in March 2007.
More than 32 percent of Holylemon.com's visitors in March were based
in Europe, while more than 55 percent of the European totals were
generated by visitors from the United Kingdom.
Holylemon.com is an editor-directed Web site focused on
user-generated media that is highly optimized for search engine
queries, consistently ranking in the top two organic search results on
Google for the term "funny videos." Launched in March 2003,
Holylemon.com has had more than 26 million page views since January 1,
2007.
"HandHeld continues to acquire great Web sites such as Holylemon
as a part of our strategy to focus on the significant growth
opportunities within the European market," said Jeff Oscodar,
president and chief executive officer of HandHeld Entertainment. "This
acquisition represents another step toward becoming the leading
provider of great online videos and digital content to our target
customers, 18-35 year-old consumers in the United States and Europe.
We now have four of the top seven sites on Google when users search
for the term 'funny videos.' Our four Web sites focusing on the
European audience make HandHeld a top provider of user-generated
comedy content in the United Kingdom and the rest of Europe."
"Holylemon.com is already a leading aggregator for funny videos on
the Internet," said Kieran O'Neill, founder of Holylemon.com. "By
joining the HandHeld Entertainment network of Web sites, we are able
to provide hours of amusement for an even larger audience. The
entertaining videos found on Holyemon.com are the perfect fit for
those users who already frequent the HandHeld network of Web sites. By
joining the HandHeld team, we are able to bridge the gap between
American and European video sites to provide leading creative content
for users across the globe."
HandHeld's Web sites provide an array of video content including
premium music videos, anime features, television shows, movies,
cartoons, independent films and documentaries, as well as news,
entertainment and sports programs from a range of media outlets such
as Sony BMG, IMG Media, Canadian Broadcasting Corp. and Fun Little
Movies. HandHeld's network also offers free, user-generated and
user-submitted videos and other forms of media. In addition, customers
can select from millions of songs available through HandHeld
Entertainment's relationships with music services eMusic and Rhapsody.
HandHeld's network of Web sites hosts more than 500,000 videos
available for online viewing, many of which are executable on a
personal video player such as HandHeld Entertainment's ZVUE(TM) brand
personal media player (PMP), and other brands of PMPs.
About HandHeld Entertainment, Inc.
HandHeld Entertainment (NASDAQ:ZVUE) is a global
digital-media-to-go company. Its network of Web sites
(Putfile.com(TM), Holylemon.com, YourDailyMedia.com(TM),
FunMansion.com(TM), Dorks.com(TM), UnOriginal.co.uk(TM) and
ZVUE.com(TM)) now houses more than 500,000 user-generated and premium
videos in total - videos available for purchase or free viewing. Its
ZVUE personal media players are mass-market priced and available for
purchase online and currently in more than 2,200 Wal-Mart stores
throughout the U.S. For more information, visit www.hheld.com.
HandHeld Entertainment, Holylemon.com, Putfile.com, ZVUE,
Dorks.com, YourDailyMedia.com, FunMansion.com and ZVUE.com and are
trademarks of HandHeld Entertainment. All other trademarks are
property of their respective owners.
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, Section 21E of
the Securities Exchange Act of 1934, and within the meaning of the
Private Securities Litigation Reform Act of 1995. Actual results could
differ materially from those projected in the forward-looking
statements as a result of various factors including the ability of the
company to successfully commercialize its new technologies as well as
risk factors set forth from time to time in HandHeld Entertainment's
filings with the United States Securities and Exchange Commission,
including Annual Reports on Form 10-KSB, Quarterly Reports on Form
10-QSB and Current Reports on Form 8-K and other reports filed by the
company with the SEC. The company undertakes no obligation to publicly
release the result of any revisions to these forward-looking
statements, which may be made to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated events.
As a result, investors should not place undue reliance on these
forward-looking statements.
