LeEco has acquired Dichotomy Creative Group for an undisclosed price and tapped its founder and CEO Adam Goodman to run Le Vision Entertainment (LeVE).
Goodman will bring his full staff and other Dichotomy assets to the company, overseeing LeVE and reporting to LeEco vice chairman Zhang Zhao.
He was the former president at DreamWorks and Paramount. Under his lead were a handful of successful films such as Transformers, Mission: Impossible, The Wolf of Wall Street and more.
He will now be responsible for English-language original entertainment content on LeEco's distribution platforms around the world, including markets like China, India, and Russia.
Under Goodman's leadership, LeVE will employ a filmmaking strategy that mirrors Dichotomy's approach to producing tentpole films for global audiences, while also utilising the Dichotomy Micro Studios banner in the lucrative micro-budget film business.
The company says it will aggressively pursue and acquire new IP and will be in a position to fully finance and co-produce movies in partnership with studios on appropriate distribution, slate financing and/or co-financing opportunities.
LeVE will be in a position to fully finance and co-produce films, aligning with studio partners on appropriate distribution, slate financing and co-financing opportunities. Goodman will also oversee television, VR and digital for LeVE.
"It was critical for us to find a partner who could honor and respect what we love about Hollywood, and at the same time, not be afraid to challenge conventions. I am very grateful for the chance to collaborate with Mr Zhang and LeEco," said Adam Goodman.
"We were looking for a next-generation company with a platform that was not limited to traditional distribution and where a budget would never be an obstacle to creating an engaging story."