Sina Tech, 3/11/11
In a recent Ku6 (Nasdaq: KUTV) internal meeting, CEO Kevin Li (Li Shanyou) had a disagreement with Chen Tianqiao, chairman of parent company Shanda Interactive (Nasdaq: SNDA), as to whether Ku6 will focus on licensed long-form content such as films or become a video news portal, according to an industry insider.
Earlier rumors claimed Chen has been meeting frequently with Ku6 senior management to pressure the site into becoming a video news service, only to meet with resistance.
Another industry source reports that Li has told Ku6 management to "choose sides" between Chen's video news model and Li's stated preference that Ku6 continue to offer films and other licensed online video content.
If Li's model survives, Ku6 will likely need even more funding, while Chen's plan would have comparatively lower costs. The source could not reveal the outcome of the conflict.