NBC has acquired LX.TV as part of a plan to create more low-cost lifestyle programming for its station group.
LX.TV already produces the real estate-centric “OpenHouseNYC” and the city guide “1st Look New York” for the Peacock’s WNBC in New York. LX.TV also produces a wide range of New York- and Los Angeles-centered videos for its website.
Now, NBC’s Local Media Division plans to use LX.TV as the foundation for a new local entertainment programming unit. Peacock is believed to have paid in the neighborhood of $10 million to acquire the company.
MTV alums Morgan Hertzan and Joseph Varet launched LX.TV (originally called Code.TV) in 2006. As part of the purchase, Hertzan has been named senior VP and general manager for LX.TV, while Varet will serve as a consultant for several months before moving on.
Hertzan and Varet will report to Phyllis Schwartz, exec VP of news, promotion and original content for NBC Local Media.
“This is a significant investment in our local media division,” said John Wallace, president of NBC Local Media. “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. (LX.TV’s) 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 content could also be used as programming on local stations’ digital channels.
CAA first brought LX.TV to the attention of NBC, after LX.TV began distributing content online. LX.TV’s programming includes segments hosted by MTV personality SuChin Pak and comedian Mo Rocca, and focuses on subjects such as nightlife, food, shopping, arts and kids, all geared toward upscale, local auds.
LX.TV will keep its operational base in New York. Company hopes to expand its New York offerings, and is in discussions with other NBC-owned outlets about bringing shows to those markets.