MCD boss Mr Denis Desmond and U2 manager, Mr Paul McGuinness are backing the former pirate broadcaster, Phantom FM, in its bid for an alternative rock local radio licence for Dublin.
Phantom, which has been operating two temporary weekend rock licences since last year, was one of six bidders that yesterday handed in their applications for the rock licence to the Broadcasting Commission of Ireland (BCI). The former popular pirate station holds 25 per cent of the consortium, which plans an initial investment of up to €2 million in the venture. The other backers have an equal share of the remaining 75 per cent each.
They include Mr Desmond and Principle Management, operated by Mr McGuinness and his partner, Mr Trevor Bowen. The company manages U2 and singer/ songwriter PJ Harvey.
The other members are former Newstalk chief executive Mr Paul Kavanagh (who is now managing director of Riviera 105 in Monaco); Mr Frank Gleeson, owner of Whelan's and the Village venues in Dublin; and father-and-son pair, Mr Brian Molloy and Mr Graham Molloy, who own Lunar Records and Evolution Public Relations respectively.
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