Title: What Happened to LeTV Recent Events

LeTV, once a prominent player in the Chinese digital media and technology industry, has been facing significant challenges in recent months. The company, which was founded in 2004 by Jia Yueting, has seen its fortunes decline amidst financial difficulties and regulatory issues.

In late 2016, LeTV announced that it was struggling with severe financial problems, including debts of over RMB 10 billion. This revelation sparked concerns about the company's viability and its ability to continue operating. As a result, LeTV has had to scale back its operations and sell off some of its assets to raise funds.

In addition to financial woes, LeTV has also been grappling with regulatory issues. The Chinese government has been cracking down on online content and streaming services, leading to tighter restrictions on what can be broadcast. This has had a significant impact on LeTV's core businesses of online video streaming and content production.

LeTV's fortunes appear to have taken a further downturn recently. In January 2017, Jia Yueting resigned as the company's CEO, leaving his position to a group of senior executives. This change in leadership was accompanied by reports of a potential restructuring of the company, including a possible breakup or spin-off of some of its businesses.

The future of LeTV remains uncertain. With financial difficulties and regulatory constraints posing significant challenges to the company's operations, it remains to be seen whether LeTV can turn things around and emerge as a viable player in the Chinese digital media and technology industry.