Televiza expects to roll out its first product in December.
Based on preliminary estimates, the project will cost around 20 million litas (EUR 5.8m), with 6.7 million litas expected to come under the EU financial support instrument Invest LT-2, and will create about 140 jobs.
Vilius Žukauskas, who is the son of Šiaulių Tauro Televizoriai CEO Rimantas Žukauskas, says that Televiza's capital will be formed from private investments, EU funds and contributions by Ukrainian and Korean partners. Its potential markets include Ukraine and Belarus, as well as Britain and France, and, at a later stage, southern European countries.
