Two former MTV executives launched a site earlier this year (Code.TV) designed as a lifestyle and entertainment guide for urbanites. The site re-launches today as LX.TV. The company founders have essentially taken the proven success formula of cable TV programming, like the Food Network and Fine Living Channel and print magazines such as Best of Life, and created unique, high-definition, content arranged by topic:nightlife,shopping, health, arts, philanthropy.

The background of the founders is evident. They’ve acquired MTV personality SuChin Pak as an interviewer for many of their lifestyle segments and the site is already gaining the attention of major marketers like Absolut Vodka. While most of today’s news and entertainment content has been re-purposed for the Internet from cable or network programming, LX.TV is taking a bold step to produce Web content exclusively. In the process avoiding the expense of production studios and carrier and satellite fees.

Yet another opportunity is emerging for entrepreneurs and seasoned producers to explore business opportunities in the new media market. You’ll find a great article in today’s Wall Street Journal on LX.TV.

Chuck Russo