Media magnate Peter Guber has signed on to chair the advisory board for virtual reality content studio NextVR, the company announced Wednesday.

NextVR focuses on capturing live virtual-reality content. So far, the company has collaborated with the NBA, the NHL, Fox Sports, NASCAR and the rock band Coldplay to generate live VR footage.

“This is about emotional engagement,” Guber said. “This isn’t just about viewing, this is about being. I don’t think it replaces or cannibalizes the live experience at the concert or at the American Music Awards or at Dodger Stadium. I don’t think it does that at all. I think it opens a whole new audience up, and a whole new experience for a global audience.”

Guber’s resume makes him a logical fit for the gig. He is currently CEO of Mandalay Entertainment; he owns sports teams the Golden State Warriors and the Los Angeles Dodgers; he is owner and chairman of Dick Clark Productions, which puts on the Golden Globes, the American Music Awards, the Billboard Music Awards and the Miss America pageant; and he is a former chairman of Sony Entertainment.

The rest of the board will include Scott Teissler, known for his time at Turner Broadcasting, and Doug Perlman, founder and CEO of Sports Media Advisors. Under Guber, the board will oversee the company’s big-picture development strategies as NextVR strives toward virtual reality gaining widespread popularity among consumers.

“We’re thrilled to formalize our relationships with these three individuals who are each outstanding in their own fields,” NextVR executive chairman Brad Allen said in a statement. “As we prepare for NextVR to play a leading role in live-action virtual reality, the advisory board will support our mission to bring world class entertainment and sports media properties into this new medium.”