Orange TV is hoping to capture a significant share of the local and regional TV market, despite a shrinking ad market and accusations of political bias.
The station, which has already been blighted by delays, will be competing against the likes of LBC and Future TV. It will offer a mixture of news, political talk shows and entertainment, when it finally starts broadcasting from Beirut in June.
OTV is the brainchild of Christian Maronite leader Michel Aoun, head of the country's Free Patriotic Movement. Aoun is one of five main shareholders on the board of directors of OTV Holding SAL, but the station is partially owned by people who have bought shares in the channel.
So far 7,000 have signed up and it is hoped that OTV will eventually raise $40m through shareholders.
The channel's close links with Aoun have led many commentators in Lebanon to believe the station will be racked by political favouritism and will be unable to attract the required level of viewers and advertising.
However, Roy Hachem, the station's CEO, said: "OTV is owned by the people and the 7,000 shareholders are the ones who establish the policy of the company and decide on its mode of action."
About 17% of OTV's programming will be dedicated to news and political talk shows but the majority of the station's output will be aimed at youth. It will eventually go Pan-Arab, broadcasting via satellite to reach the station's primary long-term target audience of Lebanese living abroad.
Hachem said: "We aim to broadcast a myriad of programmes that cater to different tastes and that will allow us to achieve our main objective -- that of becoming media leaders on the national and regional level."
"OTV is being launched to consolidate the need for a sovereign, independent and free television station."
Lebanon has a history of politically affiliated TV stations, notably LBC, which was originally founded by the Lebanese Forces, but has successfully attracted viewers from across sectarian lines.
Future TV, which is owned by the family of assassinated former prime minister Rafik Hariri, supports the current government, while Hezbollah-backed Al-Manar espouses a pro-Syrian line.
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