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Lietuvos Ryto TV chief Edmundas Jakilaitis resigns

Edmundas Jakilaitis
Viganto Ovadnevo nuotr. / Edmundas Jakilaitis
Šaltinis: BNS
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Edmundas Jakilaitis is leaving his post as CEO of Lietuvos Ryto Televizija, a TV channel owned by Lietuvos Rytas, one of Lithuania's largest media groups.

Jakilaitis confirmed this to BNS on Tuesday.

"Yes, I am stepping down as the CEO of Lietuvos Ryto Televizija on 1 January. But I am staying at this channel as an independent journalist and will continue to do the Lietuva Tiesiogiai (Lithuania Live) and 24/7 programs," he said.

As to what caused the change in his career, Jakilaitis says that it was entirely his own decision and that he is setting up a TV production company of his own.

"We have plans not only in Lithuania, but also abroad," he said.

Jakilaitis said that it will be the company's shareholders who will decide on a new CEO.

Jakilaitis has worked at the Lietuvos Rytas Group for eight years, including four years as a producer and another four years, since the establishment of Lietuvos Ryto TV, as the CEO of the TV channel.

In October, Lietuvos Ryto Televizija ranked fifth among the country's free-to-air channels by viewership, with an average daily reach of 19.1 percent and a 3.6 percent audience share in terms of the total viewing time, according to the market research company TNS LT.

Lietuvos Ryto Televizija managed to trim its annual net loss to 5.914 million litas (EUR 1.7m) last year, down 9.1 percent from 6.507 million litas in 2010, as revenues jumped by 22.2 percent to 9.296 million litas, from 7.605 million litas.

Lietuvos Ryto Televizija is 100-percent owned by Lietuvos Rytas. The latter's sshareholders include Snoras Media, a company of the bankrupt bank Snoras, with 34 percent, editor-in-chief of the Lietuvos Rytas daily Gedvydas Vainauskas with 25.47 percent, and Vidmantas Strimaitis, its director, with 12.46 percent.

BNS
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