Variety.com is reporting that former WWE executive Shane McMahon has signed a deal to bring a Video on Demand Service to China via Warner Brothers. The following in an excerpt from the article:
“[The] Announcement also follows last week’s move by Warner Bros.-based Legendary Entertainment to launch Legendary East as a new film production shingle in China. WB will release films made there throughout the rest of the world.
You On Demand was designed as a new consumer brand through China Broadband, a provider of cable broadband services and publisher of digital and analog program guides in the Shandong Province of China.
Last summer, company tapped former WWE executive Shane McMahon as its CEO and chairman, based in part in Gotham and Beijing. Since his hire, the company has been ramping up fundraising to speed up the rollout of the service, lock down content and market the venture.
As executive VP of global media at WWE, McMahon, the son of Vince McMahon, was instrumental in expanding WWE’s reach overseas, brokering lucrative deals for the company’s TV shows and PPVs in 145 countries in Europe, Asia and Latin America to broaden its audience.
On the China deal, McMahon on Wednesday described it as “groundbreaking because we are going to be able to monetize content in the largest market in the world.” He said it was difficult to leave the family business but the opportunity to be a licensed distributor of entertainment in China was too irresistible. “I didn’t want to look back and regret not having done this.”