04-05-2023, 08:36 AM
Staying with NBC, their local news streaming network LX is reportedly shutting down by mid-2023:
Meanwhile, online media outlet Vice is heading for bankruptcy:
Quote:The exact timing of when LX will sign off is unclear, but it is likely to happen in mid-2023, insiders said.From deadline.com
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. Just as it was widening its scope in 2020, Covid upended the world and the media business along with it.
Meanwhile, online media outlet Vice is heading for bankruptcy:
Quote:In February, Fortress Investment Group, the company’s debt holder, extended a $30m funding line to enable Vice to pay overdue bills to vendors. The same month, Nancy Dubuc, who took over as chief executive from controversial co-founder Shane Smith in 2018, announced her surprise departure.From theguardian.com
If a sale cannot be agreed – suitors are said to be seeking a sub-$1bn deal – a bankruptcy process would result in Vice continuing to operate normally while an auction process is run.
Watch this space...
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