The consortium formed to bid for the new radio station licence for Cork has announced details of its proposed new station, Cork KiX FM.
The licence will be awarded by the Independent Radio and Television Commission in February, following oral hearings with the shortlisted applicants.
The consortium, Maryknoll, is backed by Riverdeep chief executive Mr Barry O'Callaghan, Tedcastle Holdings joint chief executive Mr Shane Reihill, ITG chairman and chief executive Mr John Nagle and Radio 2000, the group controlled by Mr Denis O'Brien, which has been broadcasting in Dublin for 11 years as 98FM.
The consortium proposes to invest more than £2.6 million in the station, made up of £1 million in share capital and the balance raised by way of loans and leasing facilities. All partners have an equal shareholding.
The station would be a music-driven service aimed at the 15 to 34-year-old segment of the market. The proposed programming schedule would be a mix of contemporary music - primarily mainstream pop and dance - together with specialist shows. It would also feature local, national and international news, sport and talk shows.
Mr O'Callaghan, in a statement yesterday, said Maryknoll believed the style of the station and the music proposed would match the requirement of the Cork market and the aspirations of the IRTC.
"The partners in our consortium have a track record of vision and success in commercial enterprises. In particular, the industry knowledge and expertise of Radio 2000 will be invaluable to Cork KiX FM. Our consortium has the marketing, programming and capital requirements in place to ensure that Cork KiX FM is a successful long-term addition to the Cork market," he said.
Others among the seven bidders for the licence include footballers Mr Roy Keane and Mr Denis Irwin with Beat FM; Mr Colm O'Connell, of Cork 96 FM with Sonic FM; Capital C FM proposed by a consortium comprising Clare FM and LMFM (Louth Meath); and Redhot FM, proposed by a consortium including Dublin FM 104 and Crosbie Holdings, owners of the Irish Examiner.
