Multimedia content combines various media types like text, audio, images, videos and interactive elements to convey information or entertain users. It allows for richer experiences than single-media formats. Content acquisition is the process of obtaining these elements from different sources, and involves identifying needs, researching sources, ensuring proper licensing, creating an acquisition plan, selecting reputable sources, and integrating content while respecting attribution and organization. The steps ensure the content enhances the project's goals and message.