Unique: NBCUniversal ending in lxA 3-year-old network, whose mission is to give viewers “the stories you need with more sass and less soot.”;
People familiar with the decision told Deadline that the approximately 40 employees affected by the move are being actively considered for new positions within NBCU.
NBCU declined to comment when contacted by Deadline.
Like every media company, NBCU is currently tightening its belt during challenging economic times and entering 2023 cut some scattered staff Ripple across the company. The economics of the TV network business have changed dramatically in recent years and NBCU and parent Comcast haven’t hesitated to unplug operations like NBC Sports Network and G4 as the company’s strategy has evolved.
The exact timing of when LX will sign is unclear, but it is likely mid-2023, insiders said.
NBC Universal LocalLX, the division overseeing several dozen local stations, regional sports networks and other properties, initially developed LX as a digital news network and then expanded it to broadcast and streaming. Just as it was spreading its tentacles in 2020, Covid has engulfed the world and with it the media business.
As part of an effort to retain younger viewers increasingly turned away from linear TV by social media, gaming and other alternatives, LX focused on attracting Gen X and Y viewers, roughly between 18 and 49. . The network is separate from the LX-branded production unit, remaining in the fold as a specialist in lifestyle programming, which it has supplied since NBC’s 2008 acquisition of startup LX.tv.