Following the two companies' merger with Media Bites, Balzekas is now at the helm of all of 15min Group's media operations.
15min Group's new management team is also starting work, the group said in a press release.
The Lithuanian Competition Council cleared the merger in late August, opening the way for Estonia's Postimees Grupp, the former sole shareholder of 15min and BNS Lithuania, to formally close the deal with Media Bites.
Postimees Grupp now owns 60 percent of shares in 15min Group, and Media Bites' shareholders hold a 40 percent of stake and management control through 4 Bees, a newly-established holding company.
15min Group owns the following businesses and brands: 15min and BNS Lithuania, the magazines Zmones, Laime, Legendos, Ji, the Zmones.lt news website, the Zmones mobile app, the Zmones Foto photo agency and the Fotobankas.lt photoarchive, as well as the press and books distribution company Medipresa, and the online bookstore Perkuknyga.lt.
The group, which employs a workforce of over 200 people, has posted over 18 million euros in combined revenue for 2020.