NBC Gets LX.TV For Local Programming
No one’s claiming that this deal is huge; it only concerns local television programming, and the rumored acquisition price is less than $10 million. What’s interesting is that the deal involves NBC and an online startup.
LX.TV claims to offer "lifestyle television" through short clips about fashionable and moderately upscale things. The two cities on which it focuses are New York and Los Angeles, although content related to Las Vegas, San Francisco, and Miami should be on the way.
And again, we arrive at the idea that NBC believes LX.TV can cover these topics either better or cheaper (or both) than a traditional company. Also, there’s the concept that any sort of recession can’t have kicked in too strongly for such purchases to be taking place.
John Wallace, the president of NBC’s Local Media Division, acknowledged, "This is a significant investment . . ." According to Isabel Goncalves, he then continued, "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."
Yet no timeline for the full integration has been made public at this point.