audio on wifi with PI

Hi All,
Never posted in this section before as my background is in TV / sat industry. I have a small project that might be a job for some Raspberry PI's. I want to use some audio line level sources and put them over a stand alone wifi network and allow users listen using their mobile phones. I am not looking for hifi quality but latency will be an issue as the audio will be from some TV receivers so I don't want to have bad lip sync problems. Any suggestions where to start. To be honest I will be passing the information over to my 16 year old son as he has played around with the PI in the past.
Thanks in advance.