The scheme, which is funded until March 2008 by 666,000 from the Department for Culture, Media and Sport, will offer young people advice and help them develop "employability".
Media professionals will offer 14- to 25-year-olds at risk of antisocial behaviour personal advice and industry insights.
Young people will access the scheme through bodies such as Barnardo's, Foyer, YCTV, LIVE magazine and UK Youth.
All mentors will receive training. Media outlets already signed up include ITV, Channel 4, Turner, Warner Brothers, IPC Media, AOL and The Times. The Media Trust is aiming to recruit a minimum of 150 mentors who will provide support for 150 young people, though the charity said it was "confident this figure will be higher" because groups as well as individuals will be mentored. All mentoring will take place at the relevant organisation.
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