Beijing-based online media LeTV.com has hired former CEO of Enlight Pictures Zhang Zhao as the head of the company’s subsidiary working on feature film production and distribution.
Zhang is now serving as the president of LeTV Pictures, LeTV.com’s entertainment content division and has now rename the company Le Vision Pictures.
During his post at Enlight Pictures (2006-2011), the film business arm of Enlight Media, generally seen as one of the largest TV show production company, Zhang has led his company to distribute, invest and co-produce more than 20 films including Wong Kar-wai’s Ashes of Time Redux, animated film Astro Boy and the All’s Well That Ends Well film series.
Established in 2008, LeTV Pictures is the film investment wing of Shenzhen listed online media LeTV.com. LeTV Pictures has previously invested and produced two comedy hits: Jeff Lau’s action comedy Kung Fu Cyborg (2009), and Li Weiran’s 2010 summer hit Welcome to Sha-ma Town.
In late 2010, Le TV Pictures received $14.73m (RMB100m) credit loan from China’s Bank of Hangzhou on film investments. Last month, the company reached a deal with peer-to-peer video website PPLive to license its film and TV content to PPLive with the price of 1.51m (RMB10m).
Meanwhile, former head of LeTV Pictures Zhuo Shunguo, producer of Kung Fu Cyborg and Welcome to Sha-ma Town has now set up a new film production company titled Longbiao Films and is developing a romantic comedy set in Beijing.