Jeffrey Katzenberg Taps Meg Whitman to Lead Mobile Video Venture
The project, dubbed NewTV, will look to develop shortform video series for mobile devices.
Jeffrey Katzenberg has recruited former Hewlett Packard Enterprise CEO Meg Whitman to run his mobile video venture.
Whitman will serve as CEO of the company, NewTV, and will begin March 1 in Los Angeles.
Katzenberg has been incubating NewTV through WndrCo, the firm he launched after stepping down as CEO of DreamWorks Animation to invest in and launch new media and technology ventures. He has spoken publicly about his hope to create a new type of serialized, mobile-first content through NewTV and has been actively searching for investors to pump $2 billion into the venture. He will serve as chairman of NewTV.
"Meg is one of the most accomplished and sought-after executives of our time. She has built and scaled some of the most important global companies today," Katzenberg said Wednesday in a statement. "To say I am thrilled that Meg will be at the helm would be an understatement. Her leadership, operational expertise, and deep understanding of technology and consumer behavior will be invaluable in creating the future of mobile entertainment."
Whitman had served as CEO of Hewlett Packard since 2011. She announced last year that she would be stepping down from the role in 2018 but would continue to serve on the board. Prior to joining HP, Whitman was CEO of eBay. Though she has worked in technology for a number of years, she has held roles at Disney and Hasbro. Whitman currently sits on the boards at Dropbox, Procter & Gamble, Teach For America and The Nature Conservancy. She also was previously a board member at DreamWorks Animation.
"NewTV is one of the most disruptive and timely ideas I’ve come across during my career," said Whitman. "I share Jeffrey's vision that top-quality programming tailored to our mobile lifestyles is the next big touchpoint in entertainment. I'm very excited to bring my experience to a company that I believe will transform an industry and I am thrilled to be employee No. 1."
WndrCo has raised $600 million in backing from a range of investors. Katzenberg runs the venture with Ann Daly and Sujay Jaswa.