NBC acquires LX.tv
EmptyNEW YORK -- NBC's Local Media Division has acquired local entertainment video startup LX.tv, the network said Monday.
LX.tv will produce multiplatform programming for NBC's local stations and "serve as the foundation for a new unit" within the Local Media Division that will produce cultural and lifestyle programming. The company started working with New York affiliate WNBC in January 2007.
Terms of the deal were not disclosed.
"This is a significant investment in our Local Media Division," NBC Local Media Division president John Wallace said. "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 will work with NBC's Everywhere unit, which provides programming for such out-of-home platforms as taxis, stadiums and gyms.
New York-based LX.tv, founded in 2006, will continue as a stand-alone unit headed by Morgan Hertzan, senior vp and GM of the company, and Joseph Varet, who will serve as a consultant. The two will report to Phyllis Schwartz, executive vp news, promotion and original content for NBC Local Media.