NBCUniversal To Wind Down LX Network

deadline.com:

EXCLUSIVE: NBCUniversal is winding down LX, a 3-year-old network with the stated mission of delivering viewers “the stories you need with more sass and less suits.” People familiar with the decision told Deadline the nearly 40 workers 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 has been tightening its belt during the currently challenging economic times and entered 2023 with some scattered staff reductions rippling across the company.

The economics of the TV network business have changed dramatically in recent years and NBCU and parent Comcast have not 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 off is unclear, but it is likely to happen in mid-2023, insiders said. NBCUniversal Local, the division overseeing several dozen local stations, regional sports networks and other assets, developed LX initially as a digital news network and then expanded it to broadcast and streaming.