Radio UK Holdings Limited have been awarded the new local radio licence serving Plymouth.
Headed by Former Emap boss Tim Schoonmaker, who left radio to head the Odeon Cinema chain, it is the first licence win for the group. The new station is expected to broadcast as Diamond FM for people aged 18 to 54 in the Plymouth area featuring local news and information mixed with mainstream classic rock music during the day and alternative rock music during the evenings.
Diamond FM is wholly-owned by Macquarie Bank Limited and won the licence from a total of five bidders.
The licence is for a service to cover Plymouth and the immediately surrounding area which has an adult population (aged 15+) of around 200,000. However, the exact coverage will be determined by the location of the transmission site and other technical characteristics.
Ofcom expects Diamond FM to begin broadcasting at the earliest opportunity and no later than two years from this award date.
Ofcom will publish a statement setting out the key determining factors for the award of this licence shortly.
The licence will be issued for a twelve year period.