------------------------------------------------------- JUNE 18, 2004 ------------------------------------------------------- Source: Sky News http://www.sky.com/skynews/article/0,,30400-1139868,00.html New Radio Station Aims to Float Contributed to YitP by Donna Hayes A group planning to launch a new UK-wide commercial radio station for women shoppers wants to raise £13m ahead of a listing in London. Isle of Man Broadcasting has won a licence from the Manx government to operate across Britain and Ireland on a long wave frequency. It will be issuing 18.6 million shares at 70 pence each ahead of a flotation on the Alternative Investment Market (AIM) next year, with an estimated capitalisation of between £50m and £100m. It says it has lined up 60s crooner Gene Pitney and Rick Wakeman of 70s rock band Yes as DJs. There are currently only three commercial stations licensed to braodcast nationally in Britain - Classic FM, Virgin radio and TalkSport. The latter two are on the AM broacasting band, which has inferior quality to FM. Because Isle of Man Broadcasting will also be on AM, some observers think it will face an uphill struggle. One analyst said: "They will have their work cut out for them." "Listeners now are much more discerning about quality - they don't want crackle and hiss when there is such a range of FM quality and digital stations." It says it will offer a mix of easy listening music, news and talk, going head-to-head with the BBC's Radio 2. Close Window YesInThePress.com For site comments, inquiries, corrections, or additions, contact yitp@yesservices.com