The new national TV station that will launch this spring has announced it has received investment of €14 million from a variety of investors.
The founding round of funding for Channel 6 has been led by venture capital fund ACT and includes fellow VCs Delta Partners and Claret Capital.
The Cork-based Barry family has also contributed to the investment, as has the Gowan Group, the holding company controlled by the Maughan family.
Pat Donnelly, former chief executive of Aegis Media in Ireland, has also invested and will assume the role of executive chairman.
"Channel 6 provides a very attractive investment opportunity as the Irish television market is ripe for a new entrant," said Mr Donnelly.
Channel 6 will primarily carry entertainment programming services including movies, music, drama and comedy aimed at the 15-35 age group.
It will be based and run from Dublin with recruitment for management and employees currently under way. It will be the first new national station since TV3 arrived in September 1998.