A new 10-year radio licence has been awarded to Limerick's local radio station Live 95FM.
The Broadcasting Commission of Ireland (BCI) announced its decision yesterday to award the new licence to the current franchise holder, which has been broadcasting in the Limerick region since November 1997.
It is owned by UTV which took over Limerick's local radio in 2002, investing €16 million and increasing its market share from 33 per cent to 53.7 per cent today.
The BCI's decision follows a lengthy application process which saw Live 95FM beat off stiff competition. Heat FM, a group backed by investors including comedian Pat Shortt, former Cranberries Noel and Mike Hogan and Feargal Lawlor, made a bid for the licence at an oral hearing last November.
The new licence is subject to the outcome of contract negotiations between UTV and the BCI.