LOS ANGELES - Twistbox Entertainment has finalized a reverse merger with OTC-listed Mandalay Media.

Twistbox is the parent company of Waat Media, an adviser of mobile carriers worldwide and a leading provider of entertainment for mobile phones and wireless devices.

Waat Media has been widely touted as the leading mobile adult content publisher and distributor, but recently has downplayed that designation with an unassuming website and a new claim that the company is the leader in "late-night entertainment."