RIVERDANCE producers Mr John Colgan and Ms Moya Doherty's winning streak continued as their consortium won the licence for the new national commercial radio station. Despite their perceived lack of experience the Radio Ireland consortium, which also includes a broad range of other investors, such as Mr Dermot Desmond, scooped the licence ahead of four other strong contenders, including the two Dublin radio stations, FM 104 and 98FM.

Soon after taking the licence, one of its investors, the Irish Farmers Journal was forced to withdraw from Radio Ireland, for legal reasons. Its 6 per cent was subsequently sold to Scottish Radio Holdings which then increased its holding to 15 per cent paying £500,000 to the consortium.

So far however the new station has missed its own deadline for broadcasting, having indicated that it would grace the airwaves from last month. It is now expected to be up and running by St Patrick's Day with 97 per cent coverage throughout the Republic.