Two radio stations, Dublin's Country Mix and Wicklow's East Coast Radio, are to be offered for sale to interested media companies.

Meanwhile Today FM, which is owned by British media group, Emap, was yesterday awarded a new 10-year licence by the Broadcasting Commission of Ireland (BCI).

Chief executive Willie O'Reilly said the best years of the station lay ahead.

Emap is one of the companies that may take an interest in the sale of the two other stations. This sale is also likely to include a 12 per cent stake in KFM, Kildare's local radio station which is held by East Coast.

It is understood Merrion Stockbrokers has been hired to act as a sales agent for the stations and the Kildare stake.

The two stations have several common shareholders and occupy the same studio space at the Radio Centre, Killarney Road, Bray.

It is believed that all shareholders in Country Mix want to sell, but there is not as much unanimity among the East Coast shareholders.

Among the shareholders in East Coast Radio is Communicorp, the company controlled by entrepreneur Denis O'Brien. Industry sources describe this holding as a "passive" one.

Sources familiar with the sale process said East Coast and Country Mix were not being sold as part of the one package, but there was nothing stopping one buyer purchasing them together.

Buying the two stations is likely to cost over €6 million, but the KFM stake could add between €1 and €2 million to the purchase price.

Country Mix has struggled for profitability since it was first licensed in October 2001.

The station's management has made several unsuccessful attempts to change its name and consequently broaden its music policy.

Last year the Broadcasting Commission of Ireland (BCI) did allow it to change its name to Dublin's Country Mix, from Dublin's Country.

According to the BCI its current formula is "country and Irish music in Dublin with hourly news bulletins". It has a full-time staff of 17 and 10 part-time staff.

The company, which owns the station, is Star Broadcasting which had accummulated losses on its balance sheet, as of March 31st, 2005, of €2.9 million.

The balance sheet says the company is currently funded by long-term loans from investors.

The major shareholder is Gerry Carron, a businessman from Co Tyrone, who is also a shareholder in East Coast Radio.

He stands to be a major beneficiary of the sale of either radio station.

East Coast has been more succesful commercially than Country Mix with retained profits of €347,276 by the end of December 2004.

This is likely to have increased notably since then in a buoyant radio advertising market. The company had fixed assets during this period of €1.5 million.

Today FM's licence will come into effect in March 2007 and will run to 2017.

No conditions have been imposed with the licence and Today FM will not be required to make any change its broadcasting schedule.

Commenting on the announcement, the station's chairman, John McColgan said: "Today FM has brought something new and worthwhile to Irish radio.

"Everyone has worked hard to achieve this. I am delighted for the success of the Today FM team - they are the best show in town."