Chinese VOD Service Replaces American CEO15 Jul, 2013 By: Erik Gruenwedel
YOU On Demand Holdings, a Chinese video-on-demand and pay-per-view service based in New York, has named Weicheng Liu CEO, replacing Shane McMahon, who remains chairman of the board.
Liu assumed the position in part due to the recently announced closing of an investment from Chinese mobile video service provider C Media.
YOU, which has content license agreements with Screen Media, Warner Bros., Disney Media Distribution, NBC Universal, Paramount Pictures, Lionsgate, Miramax, Magnolia Pictures, Gravitas Ventures, Film Buff, K2 Communications, 3net and Big Mama Digital Entertainment (karaoke), has expanded throughout China, making it essential that the role of CEO be handled by a native living in the communist country.
“With Weicheng's new role, along with C Media's strategic investment, I am very excited about the future for YOU On Demand,” McMahon said in a statement.
McMahon, 43, is better known via his father, Vince McMahon, who is chairman and CEO of World Wrestling Entertainment.