Lingerie retailer Victoria’s Secret is “rethinking” its annual fashion show, according to a memo sent to employees Friday by L Brands CEO Les Wexner, which was obtained by CNBC. Wexner said network television is no longer the “right fit” for the event, which has been broadcast on ABC and CBS for almost 20 years. He said the company instead will focus on creating a “new kind of event.” Viewership for the fashion show has been dropping. The last show, televised in December, suffered the worst ratings in its broadcast history. That’s as Victoria’s Secret has been facing more criticism from women, its core customers, for trying to sell bedazzled bras and skimpy underwear on slim supermodels. Read more at CNBC.