The large UK media company, EMAP, has chosen the Dublin youth radio licence as its first pitch for a major radio venture outside the UK.
EMAP has 18 radio licences in the UK and holds 10 per cent of the Storm consortium, which also includes U2's guitarist The Edge, fashion designer John Rocha and Boyzone's manager Mr Louis Walsh.
Storm is one of four consortiums chosen to make a full presentation to the IRTC later this month.
Mr Paul Kavanagh, director of programmes at EMAP, believes there is significant potential in the youth market here, as the existing stations largely ignore this 15- to 34-year-old age group, choosing to aim for an older, more affluent market. Mr Kavanagh, an Irishman, said EMAP's philosophy is to back groups of creative people to exploit radio opportunities, but using a sound business orientation.
The group is now the leading player in the UK local radio market, owning 18 stations.
While all its radio interests are in the UK, it has other interests in Continental Europe and recently bought a large US publishing house, Peterson.
A FTSE-100 company, it recorded pre-tax profits of £161 million sterling (€244 million) last year.
Mr Kavanagh, who has been in radio for all his working life, said EMAP's strategy was to "back the creative team" going for the Dublin licence as part of its strategy of becoming a major international player in the sector.
He has a long background in the radio industry. He initially presented with some of Dublin's pirates stations before becoming a well-known name with the Sunshine radio station.
He later helped set up Atlantic 252 and advised on the establishment of several stations in Paris, Prague, Berlin and Stockholm.
He then went as programme director to EMAP, which he says sees major potential for the growth of radio in the diversified media market, aided by the advent of digital technology and the link-ups available with e-commerce.
EMAP is one of the world's largest media groups. In addition to its UK radio interests, it owns 600 magazines and employs more than 6,000 people worldwide.
