Wordclock (as in Audio) with Arduino?

Hi there.

So, I need a Wordclock Generator for one of my Projects involving multiple soundcards with Wordclock Ins. Basically, its a 48kHz (or 44,1kHz) Generator with Low jitter and Phase noise and great overall stability. But, the pricelist of such Gear is very high. Could IT be possible, to use one of the Specialized Chips with Arduino control?
Thanks,
Vadim.