The "mobile-first media platform" is producing short, Hollywood-style productions for mobile devices, with a run time of 10 minutes or less.
Whitman begins in March. Katzenberg, the former Disney chairman and co-founder of DreamWorks Animation, is the chairman.
Whitman, 61, will leave Hewlett Packard Enterprise Co. at the end of the month. Her name had been bandied about as a possible replacement for Travis Kalanick at beleaguered Uber. She will run NewTV from Los Angeles.
Whitman led eBay from 1998 to 2008, then ran a largely self-funded, unsuccessful run for governor of California in 2009.
--The Associated Press