-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 BXIonpPIkJq2wNng+ycLxiOVqrhmJkmPvGXsZ4Da7nPJw7pEf6zBd8Aq/9X5qJbe
 zhciRH3dfeb4IfNPlqqFiQ==

<SEC-DOCUMENT>0001144204-08-009913.txt : 20080215
<SEC-HEADER>0001144204-08-009913.hdr.sgml : 20080215
<ACCEPTANCE-DATETIME>20080215064924
ACCESSION NUMBER:		0001144204-08-009913
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080212
FILED AS OF DATE:		20080215
DATE AS OF CHANGE:		20080215

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Mandalay Media, Inc.
		CENTRAL INDEX KEY:			0000317788
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				222267658
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		2121 AVENUE OF THE STARS
		STREET 2:		SUITE 2550
		CITY:			LOS ANGELES,
		STATE:			CA
		ZIP:			90067
		BUSINESS PHONE:		(310) 601-2500

	MAIL ADDRESS:	
		STREET 1:		2121 AVENUE OF THE STARS
		STREET 2:		SUITE 2550
		CITY:			LOS ANGELES,
		STATE:			CA
		ZIP:			90067

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Mediavest, Inc.
		DATE OF NAME CHANGE:	20050809

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EB2B COMMERCE INC /NY/
		DATE OF NAME CHANGE:	20010323

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DYNAMICWEB ENTERPRISES INC
		DATE OF NAME CHANGE:	19960624

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Barteska Eugen
		CENTRAL INDEX KEY:			0001426677

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-10039
		FILM NUMBER:		08620978

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		49(0)2304200121

	MAIL ADDRESS:	
		STREET 1:		TWISTBOX GAMES LTD. & CO. KG
		STREET 2:		LOHBACHSTR. 12
		CITY:			SCHWERTE
		STATE:			2M
		ZIP:			58239
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>v103985_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-02-12</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000317788</issuerCik>
        <issuerName>Mandalay Media, Inc.</issuerName>
        <issuerTradingSymbol>MNDL.OB</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001426677</rptOwnerCik>
            <rptOwnerName>Barteska Eugen</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O TWISTBOX GAMES LTD. &amp; CO. KG</rptOwnerStreet1>
            <rptOwnerStreet2>(CHARISMATIX) LOHBACHSTR 12</rptOwnerStreet2>
            <rptOwnerCity>SCHWERTE</rptOwnerCity>
            <rptOwnerState>2M</rptOwnerState>
            <rptOwnerZipCode>D-58239</rptOwnerZipCode>
            <rptOwnerStateDescription>GERMANY</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>See Remarks</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, $.0001 par value per share</value>
            </securityTitle>
            <transactionDate>
                <value>2008-02-12</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>5</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>52120</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>52120</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.48</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2008-02-12</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>5</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>173622</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2008-02-12</value>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2016-05-09</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>173622</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>173622</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.81</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2008-02-12</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>5</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>25538</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F4"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2008-02-12</value>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2017-09-27</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>25538</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>25538</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Mr. Barteska received the shares as consideration in connection with the Merger.</footnote>
        <footnote id="F2">In connection with the Merger, Mr. Barteska received options to purchase common stock of the Company, $0.0001 par value per
 share, with an exercise price of $0.48 per share in exchange for options to purchase 237,946 shares of Twistbox with an
 exercise price of $0.35 per share.</footnote>
        <footnote id="F3">Any unvested options prior to the closing of the Merger became fully vested upon consummation of the Merger.</footnote>
        <footnote id="F4">In connection with the Merger, Mr. Barteska received options to purchase common stock of the Company, $0.0001 par value per
 share, with an exercise price of $0.81 per share in exchange for options to purchase 35,000 shares of Twistbox with an
 exercise price of $0.59 per share.</footnote>
    </footnotes>

    <remarks>On February 12, 2008, Twistbox Entertainment, Inc. (&quot;Twistbox&quot;) merged (the &quot;Merger&quot;) with and into Twistbox Acquisition,
 Inc., a wholly-owned subsidiary of Mandalay Media, Inc. (the &quot;Company&quot;).  Mr. Barteska is the Managing Director of Twistbox
 Games Ltd. &amp; Co. KG (Charismatix), a limited partnership of which Twistbox is the general partner.</remarks>

    <ownerSignature>
        <signatureName>/s/ Eugen Barteska</signatureName>
        <signatureDate>2008-02-14</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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