Latvia, Markets and Companies, Telecomunications

The new channel will be presented to viewers sometime between March and September next year; the name of the new TV channel has not been decided yet, writes LETA.

The company plans to launch new TV channels in not only Latvia but also in Lithuania and Estonia, in Lithuanian and Estonian respectively. It is unknown presently when exactly these TV channels could commence, as it depends on how soon the company can attract investments, said Solodovs.

He also said that the pan-Baltic project required investments worth about EUR 25 million altogether.

"The main reason why we are planning to introduce a new national channel in Latvia is the ability to fully compete with Scandinavian media group Modern Times Group (MTG)," stressed Solodovs. After the merger of TV3 and LNT televisions, MTG now has eight TV channels in Latvia, in both Latvian and Russian, and MTG has consolidated its leading positions on the TV advertising market, he added.

According to Solodovs, Baltijas mediju alianse will introduce a conceptually new TV channel with quality content, efficient management and professional team.

"We are planning that our own news broadcasts, recreational programs and shows will account for about one-third of the new channels' content, and foreign films, television series and other programs – for about 70 percent," said Solodovs.

It would be too soon now to say if the new channel will be free or subscription-based, because that will depend on the market situation and on how much Lattelecom will charge for inclusion of the channel into the free terrestrial digital television package, said Solodovs.

Baltijas mediju alianse is a mass media group that includes TV channels "Pirmais Baltijas kanals", "REN TV Baltija", "REN TV Estonia", "Pirmais Baltijas muzikalais kanals", "NTV Mir Baltic", as well as weekly newspapers "MK Latvija" and "GK Estonia".

Baltijas mediju alianse head offices are located in Riga, with branches in Vilnius and Tallinn.

Baltijas mediju alianse owners are Solodovs and Russian resident Alexey Plasunov.

The group's turnover in 2011 amounted to LVL 13.3 million and profit to LVL 43,000.