NBC division acquires Web video site LX.tv
NBC's Local Media Division has acquired LX Networks, a New York-based start-up that produces videos for the Web about high-end entertainment and culture centered around New York and Los Angeles. Financial terms were not disclosed.
It's not like we couldn't have seen this coming. NBC's New York affiliate, WNBC, has been broadcasting a limited number of LX.tv videos--namely its "OpenHouseNYC" real-estate series, and the "1st Look" restaurant and bar preview show--since last January.
LX's slick LX.tv "channel," founded in 2006 by former MTV executives Morgan Hertzan and Joseph Varet (it was originally known as Code.tv), features high-quality production and professional anchors--many of whom are MTV Networks veterans themselves. Geared toward young professionals with a taste for luxury and a good dose of social energy, recent LX.tv videos have featured interviews with the founders of the Zagat Survey, the growing "small plates" phenomenon at New York restaurants, and a tour of a new martial-arts studio.
With the acquisition, Hertzan's new title at NBC Local Media is now senior vice president and general manager; Varet will remain on board as a consultant.
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LX.tv,
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NBC Universal,
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NBC Local Media,
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M&A,
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acquisitions,
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media,
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entertainment,
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video
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