Music heads behind radio station bid

SOME of the biggest names in Irish music have emerged as the backers of a bid for a radio licence in Dublin.

U2 manager Paul McGuinness and concert promoter Denis Desmond have emerged as leading members of a consortium bidding to win the licence to set up an alternative rock music station in Dublin.

Other members of the consortium backing Phantom FM are: Frank Gleeson, who owns the Dublin music venues Whelans and The Village; Graham Molloy of Evolution Public Relations; Brian Molloy, a founding director of Today FM; and radio station consultant Paul Kavanagh. Mr McGuinness’s Principle Management company, which managers U2, PJ Harvey and Paddy Casey among others, is a shareholders in Beat FM, the commercial broadcaster that operates in the south-east.

He was also involved in a number of other ventures in the entertainment business, including Ardmore Studios, Riverdance and TV3.

Mr Desmond owns MCD with his wife Caroline. It is the largest concert promotions business in Ireland with venues like the Gaiety Theatre. He has recently taken a sizeable stake in Vince Power’s Mean Fiddler Music Group.

Phantom spokesman Simon Maher said the consortium has a balance of commercial acumen and experience and he says they are hopeful of their bid. Phantom has held a temporary licence in Dublin for some time and is considered among the front runners.

Other players in the radio market have already thrown their hat in the ring, including former FM104 boss Dermot Hanrahan and British group Xfm which has teamed up a number of high-profile investors including UTV and former Atlantic 252 chairman Donnach O’Driscoll.

Deadline is next Friday and the list of applicants will be whittled down in August. The Broadcasting Commission of Ireland will hold oral hearings shortly afterwards with the final decision in October.