Details on the five applications for the new Dublin radio licence are as follows:Phantom FM: Phantom seen by many market observers as a leading contender for the licence, is a controversial applicant because of its record as a pirate operator.
This history will however have been diluted positively over the past couple of years, which have seen Phantom operate under temporary weekend licences handed down by the BCI. The Phantom application is thus supported by real experience of the Dublin alternative rock market.
In this instance, Phantom is being backed by Mr Paul McGuinness's Principle Management and Mr Denis Desmond's Gaiety Investments, both of which offer significant financial gravitas to the proposal.
Principle and Gaiety would share 28 per cent of Phantom if it were successful.
Phantom proposes to reach 4 per cent of Dublin's listeners by year three, by which time revenues would stand at €1.8 million. Set-up costs would amount to 2 million, with €1 million of this to be drawn from shareholders.
Phantom says the Dublin radio market is worth about €20 million.
Raw
One of Raw's most defining qualities is that it is backed by hugely wealthy serial media entrepreneur Mr Denis O'Brien.
Mr O'Brien is already owner of more than half of Dublin news station Newstalk and is outright owner of 98 FM. He also owns a 50 per cent share in youth station Spin FM, which would be a likely competitor to the new radio station.
Raw has a current equity base of €75,000 to fund the licence application, with shareholders committed to advancing a further €1.2 million.
Equity of €800,000 would be raised at the beginning of the second year.
Raw values the Dublin advertising market at €40 million and plans to achieve a 10.5 per cent share of listeners aged between 15 and 35.
The consortium is targeting revenues of €2 million by 2007 and more than €3 million by year five.
Raw's largest shareholder is Mr Lee Thompson, formerly of Yahoo, who would control 25 per cent. Mr O'Brien would have 17.5 per cent, while entrepreneur Mr Kevin Fitzsimons would take another quarter.
ZED FM
ZED FM's application is backed by some impressive names, including former FM104 chief executive officer Mr Dermot Hanrahan.
Mr Peter and Mr Jim Aiken of music promoters Aiken Promotions are also included, with musician and entrepreneur Mr Bob Geldof adding that star quality to proceedings with a 10 per cent holding.
Ms Barbara Galavan, formerly of Principle Management, is also involved.
Hot Press magazine, which is owned mainly by Mr Niall Stokes, a former chairman of the BCI's predecessor, would take 24 per cent.
The shareholders are committed to providing €1.3 million in capital funding, with a further €1 million to come from leasing and borrowing.
ZED is targeting a 5 per cent market share within three years, by which time revenues would stand at €2.08 million. The station would, according to the application, reach profit in year three.
According to ZED's research, about 90 per cent of the people in the 15-54 age group have listened to a local Dublin station.
Radio Eleven
Radio Eleven's application is backed by a varied bag of heavy-hitting investors, led by Abrakebabra founder Mr Graeme Beere, who would own 30 per cent of the station.
The consortium also includes property developer Mr Johnny Ronan, night-club owner and restaurateur Mr Robbie Fox and barrister Mr Gavin Bonnar, who is married to popstar Ms Sharon Corr.
The station would have an equity base of €3 million to fund the application, with shareholders agreeing to advance a further €1 million if necessary.
Bank facilities have also been negotiated.
The application is based on the Dublin advertising market being worth €45 million, with Eleven aiming for revenues of €2.5 million by year three and almost €4 million by year five.
It would expect a profit of roughly €420,000 in year five based on a listenership level of 8 per cent.
The consortium favours guerrilla - or below the line - marketing over more conventional spend.
It has set itself a marketing budget of €450,000 in the first year.
XFM
XFM Dublin is the only applicant to be backed by public companies, with Belfast-based UTV and London-based Capital Radio behind the bid.
UTV is the dominant shareholder, taking an 80 per cent holding, with Capital taking 10 per cent even though it is injecting no capital.
The remaining shareholder - Absolute Radio International - is a three-man media consultancy headed by former Atlantic 252 chairman Mr Donnach O'Driscoll.
UTV would provide all of the projected €2.75 million in start-up costs.
Like Raw, XFM Dublin is banking on the BCI taking a benign view to ownership concentration in Dublin, with UTV already owning Q102, as well as other stations in Cork and Limerick.
XFM puts the value of the Dublin radio advertising market at €45 million. It would expect to generate revenues of €2.3 million by year three, by which time it would have an 8 per cent share of Dublin listeners aged between 15 and 34.
The station would aim to spend €1 million on marketing over the first 18 months of its existence.
