Capital's involvement is particularly interesting as they own London's alternative station, Xfm, and its spin off X-Ray music magazine.

"Given UTV's expertise within Irish media and our specific understanding of the Dublin radio market as an existing licence holder, we believe that our proposition to introduce the definitive alternative rock brand Xfm to Dublin is sure to be a winner with local listeners," says UTV Group Chief Executive, John McCann. "Backed up by the solid financial strength of two major broadcasting companies UTV and Capital Radio, this application ensures sustainability for a new radio station in this very competitive market."

Adds Xfm Managing Director Graham Bryce: "This license provides a fantastic opportunity to extend the Xfm brand into the Dublin market. The combined strength of the Xfm brand, our unrivalled expertise in this format of radio and our partners local knowledge will enable us to create something truly unique for Dubliners."

UTV currently has a shareholding in Dublin's Q102, Cork's 96/103FM and Limerick's Live 95FM.