Le Sports, the sports business platform of Letv.com, announced that the company has acquired the entire stake in Zhangyu TV, a sports live broadcast platform, for a consideration of CNY300 million.
After the acquisition, founder of Zhangyu TV Zhang Xuan will be appointed chief technology officer of Le Sports, and he will directly report to Le Sports chief executive officer Lei Zhenjian. This is the first time for Le Sports to appoint a CTO.
In the new role, Zhang will be responsible for making a multi-core business development strategy covering Le Sports' content platform, event operations, and smart and Internet services. He will promote a complete innovative chain of technology services, product development and strategic cooperation while leading the establishment of a user-generated content video ecosystem.
On the completion of the acquisition, Zhangyu TV will become a UGC live broadcast platform under Le Sports.
