Departing Hewlett Packard Enterprise CEO Meg Whitman will become chief executive of DreamWorks co-founder Jeffrey Katzenberg's mobile media firm NewTV, a move that places her back into uncharted territory.

Meg Whitman is one of the most powerful women in US business and a former candidate for California governor.

She will be moving into a nascent sector much like when she took over eBay in its early stages and turned it into a multi-billion dollar business. 

Whitman starts on March 1 at Katzenberg's startup firm, which plans to make Hollywood-style, short-form videos for mobile use. 

Analysts said the move marked a change of pace for Meg after stepping down from HP as NewTV and Katzenberg have created a unique business model which has a long runway ahead of it for the coming years. 

Several media reports said NewTV is trying to raise about $2 billion, which would be a significant first round of financing for a digital media startup. 

The firm declined to comment on the funding. Katzenberg is chairman of NewTV. 

Whitman, who was reportedly a leading candidate for the chief executive job at ride-hailing firm Uber before it was given to Dara Khosrowshahi, steps down as CEO of Hewlett Packard Enterprise on February 1. 

At HPE, she pulled off one of the biggest corporate breakups in history. 

She spun off Hewlett Packard into HPE and PC-and-printer business HP Inc in 2015, as part of a plan to turn around the corporation. 

Whitman had previously served on the board of DreamWorks Animation, which Katzenberg co-founded.