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NBC Local Media Division Acquires LX.TV - TvTechnology

NBC Local Media Division Acquires LX.TV

NBC Local Media Division said the acquisition reflects the group’s strategy to diversify its portfolio and supplement its local content production capabilities across its numerous media platforms.
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NBC has invested in the online future of local content with the acquisition Monday of LX.TV, a Web-based broadband video site featuring numerous snippets on New York nightlife and goings on.

NBC said LX.TV will serve as the foundation for a new unit within its Local Media Division that will produce cultural and lifestyle programming for the group’ local media platforms.

“This is a significant investment in our Local Media Division,” said NBC Local Media Division President John Wallace. “As we continue to grow our business outside of the traditional television space, one of our priorities has been to increase our local content production, with a particular focus on lifestyle and cultural programming. We worked with LX.TV on several projects at WNBC, and their understanding of the local marketplace and what appeals to the young urban audience—not just in New York, but beyond—makes them a great fit for our division.”

LX.TV was founded in 2006 by Morgan Hertzan and Joseph Varet, who will continue to lead the company’s production efforts. Hertzan, who has been named senior vice president and general manager for LX.TV, and Varet, who has been named a consultant for the company, will report directly to Phyllis Schwartz, executive vice president for news, promotion and original content for NBC Local Media.

“For the past 22 months, LX.TV has been creating innovative lifestyle content that consumers have enjoyed on numerous media platforms,” said Hertzan. “LX.TV created several original and engaging shows exclusively for WNBC in the New York market, and we are thrilled to become a part of the NBC Local Media Division and expand our unique programming efforts across the U.S.”

NBC Local Media Division said the acquisition reflects the group’s strategy to diversify its portfolio and supplement its local content production capabilities across its numerous media platforms. As a standalone business within the NBC Local Media Division, LX.TV will continue to be based in New York and will expand its organization to include production offices in several owned-and-operated station markets. The company will focus on producing relevant local content that is unique to its particular market, but that also has a broader regional appeal.

LX.TV, which began distributing its local entertainment content exclusively online, has grown since its New York real estate show “OpenHouseNYC” began airing on NBC’s O&O WNBC in January 2007. Since then, WNBC has also added the New York lifestyle show “LX.TV 1st Look.”