A new 10-year licence for a youth-targeted radio station for the southwest region has been awarded to a Dublin-based group - Spin South West.
The decision was announced in Dublin yesterday following a board meeting of the Broadcasting Commission of Ireland.
The Dublin consortium, backed by Spin FM, the independent radio station owned by Denis O'Brien's Communicorp, saw off the challenge of the only other bid - Red FM South West, based in Cork.
The new radio service will provide a mix of music and speech for the 15-34 age group in Limerick, Clare and Kerry as well as parts of Tipperary and Laois.
At an oral hearing in July, Spin South West said it would invest €3.8 million in the new radio franchise and expects to create up to 40 jobs. It aims to generate revenue of €1.2 million in the first year growing to €2.1 million by year three.
The chairman of the Spin South West consortium is Liam O'Shea, the managing director of independent radio station Clare FM. Other investors include Setanta Radio, Communicorp and Keith Wood, the former Irish rugby captain.
Spin South West, which will locate its studios at the Raheen roundabout in Limerick, has described its proposed music base as a mix of urban, rock, pop and dance.
The new station is expected to begin broadcasting in March next year and will become the second regional radio station in the country after Beat FM.
