The Lexington Broadcast Services Company, later known as LBS Communications, was a pivotal American television production and syndication company established on November 15, 1976. Founded by advertising pioneer Henry Siegel, LBS became renowned as "the man who built Lexington Broadcast Services into the nation's largest barter syndicator, and thus defined that segment of the TV ad business." Initially a unit of Grey Advertising, LBS focused on developing syndicated products, with early ventures including Not for Women Only and Hot Fudge. Its first significant success came in 1977 with the launch of Sha Na Na for syndication, utilizing the innovative barter advertising model that became LBS's hallmark.

LBS expanded its reach through crucial partnerships and ventures throughout the 1980s. In December 1982, it collaborated with Columbia Pictures Television to bring the ABC drama Family to off-network syndication, distributed by LBS on a barter basis. The success of this collaboration led to the formation of the Colex Enterprises joint venture between LBS and Columbia. LBS also teamed up with DIC Entertainment and Mattel in 1986 to launch the syndicated block Kideo TV and later produced the Family Theater animated specials with DIC. Further plans included a live-action Dennis the Menace feature film with DIC and Columbia. The company became known for distributing a wide array of programs from DIC Entertainment and Columbia Pictures Television, as well as handling films directed by Elia Kazan and select Bob Hope-produced movies.

Despite its success, LBS faced significant challenges. In 1985, it entered the home video market with Kideo Video, a venture with DIC Enterprises and Karl/Lorimar Home Video, but the initial videocassettes underperformed. By 1987, LBS pivoted to marketing beauty videocassettes. A legal dispute over Kideo Video between DIC and LBS was "amicably" settled in June 1987, though it brought to light issues concerning a $250 million joint account managed by LBS, with allegations of wrongdoing and transactions involving the Cayman Islands. Further turmoil ensued when a management buyout of the company from Grey Advertising by Marvin Davis, a former owner of 20th Century-Fox, left LBS in a precarious financial position, with alternatives failing to materialize.

The financial strain intensified as LBS's partnership with Columbia Pictures Television eventually ended, leading to significant monetary losses for the company. In December 1991, LBS Communications filed for Chapter 11 bankruptcy. As a direct consequence of its insolvency, LBS was compelled to sell between 80 and 85 percent of its assets to All American Television, its distributor partner for the successful 1991 syndicated re-launch of Baywatch. This marked the end of LBS as an independent entity, despite its pioneering role in barter syndication and its distribution of many notable television programs and films, including Fame, Hollywood Squares (1986-89), The Donna Reed Show, and The Monkees.