Pulse FM, the unsuccessful applicant for a youth-oriented Dublin radio licence, has decided to abandon its application for a judicial review of the granting of the licence to Spin FM, a consortium involving Mr Denis O'Brien.
Had it gone ahead with the application, Pulse, a consortium including U2 manager Mr Paul McGuinness, would have had to lodge £100,000 (€127,064) as security for costs, in the High Court by yesterday.
Pulse claimed in a statement that it had been the subject of "nothing short of a gagging order" and said it was with regret that it could not now continue with this action.
"We believe that the action of the IRTC and the Spin consortium in seeking security for costs amounted to an attempt to suppress information about the decision-making process which rightly belongs in the public domain," Pulse said.
"It should be a matter of public concern, in particular in the current climate, that a body, all of whose members are appointed by the politicians of the day, can decide who has a right to broadcast in this country with any obligations to state reasons for its decision."
