LeEco acquires Adam Goodman’s Dichotomy

China’s LeEco has acquired Dichotomy Creative Group, founded by former Paramount Pictures executive Adam Goodman.

Based in Los Angeles, Goodman will oversee new a new production division, Le Vision Entertainment (LeVE), reporting to LeEco vice chairman Zhang Zhao.

As president of LeVE, Goodman will be responsible for English-language original entertainment content for global distribution, including on LeEco’s streaming platforms in markets like China, India and Russia.

In a statement, LeEco said the new division would “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”.

LeVE will be in a position to fully finance and co-produce the films, aligning with studio partners on distribution, slate financing and/or co-financing opportunities where necessary. Goodman will also oversee television, VR and digital for LeVE.

“It was critical for us to find a partner who could honour and respect what we love about Hollywood, and at the same time, not be afraid to challenge conventions,” said Goodman.

“First and foremost, 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.”

Goodman follows a long line of former Hollywood studio executives, including Jeff Robinov, Dick Cook and Roberts Simonds, who have found backers in China for their start-up ventures.