A shortlist of just two has been announced by the BCI, in the contest for the new Dublin Alternative Rock licence.

In a move that may come as a surprise to many, of the original five applicants, the only ones left in the race by the BCI are Phantom FM and Zed FM.

Phantom are backed by a number of music industry figures, including Paul McGuinness, Denis Desmond, Brian Molloy and his son Graham, while the Zed FM bid was put together by former MD of FM 104 Dermot Hanrahan, Hot Press magazine, Bob Geldof, IMRO vice chairman Barbara Galavan, showbiz acountant Gaby Smith, promoter Jim Aiken and his son Peter.

Those eliminated from the race were the UTV/X FM consortium, as well as Raw FM, involving Denis O'Brien, and Radio Eleven, fronted by Dave Kavanagh – the former Clannad manager, who is also a close associate of Paul McGuinness.

The oral hearing will take place in the first half of October, following which the BCI will finalise its decision, bringing to fruition a process that could have far reaching benefits for the local rock scene.