Following a string of six acquisitions in the online video space over the past year, HandHeld Entertainment (Nasdaq: ZVUE)  is proposing a name change to Zvue Network. Earlier this month, HandHeld agreed to buy user-gen site eBaum’sWorld. HandHeld said that by owning eBaum’s, the San Francisco company will have many as 24 million daily unique visitors per month, claiming that this will make it the sixth largest video site.  Taking the new name would highlight the change in its entertainment mix even though the Zvue brand started as a portable device business. The stock already trades under ZVUE. Release.

More on eBaum’s World: As earlier reported, the deal calls for an initial payout of $17.5 million—$15 million in cash and $5 million in stock with $2.5 million of the stock contingent on meeting targets. In a conference call yesterday and statement today, HandHeld said that target was about $5.7 million in revenue through a 12-month period ending June 2008. HandHeld did not elaborate on the targets that would have to be met over the next three years to merit up to $32 million in earnouts.

Bridge financing: HandHeld also has arranged for bridge financing of up to $5 million from company co-founder Carl Page as it continues with plans to raise $24 million through convertible debentures for the eBaum acquisition and other costs.

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