The National Television Company of Ukraine is to be transformed from a state organisation into a public joint stock company.

Quoting Zurab Alasania, the broadcaster’s director general, Kyiv Post reports that the process will take place in four stages.

Last week, the country’s president Petro Poroshenko signed a law at a public ceremony approving the transformation.

Quoted in reports, he said that it was something Ukraine had been waiting for for 23 years.

The new broadcaster (NSTU) will be a public joint stock company 100% owned by the state.

It will operate at least two national TV channels, a regional TV channel and at least three national radio stations.

NSTU will be financed state and local budgets, sales of TV and radio productions and monthly receiver licence fees.

Funding will also be obtained from other sources, including strictly controlled sponsorship and advertising.

NSTU will have supervisory and editorial boards consisting of up to nine and 15 members respectively.