Shareholders of Radio Maldwyn have approved to wind up the company and to appoint liquidators at an extraordinary general meeting.
The meeting, which took place on Monday at Newtown's Regent Centre, heard a number of companies and a community group have declared an interest in buying the station.
The BBC [link=http://www.bbc.co.uk/news/uk-wales-mid-wales-11985257?]reports[/link] that the station's presenters [i]stopped broadcasting last month and back-to-back music has been aired ever since.[/i]
Newtown councillor and station shareholder Russell George told the BBC: "Gerald Irwin, the appointed liquidator informed the meeting that his advice was that shareholders should accept the recommendation to wind up the company and went on to say that he had received four expressions of interest.
"Radio Maldwyn offered a good service throughout the mid Wales area and it's sad that the station had to be wound up.
"People particularly missed the stations news updates during the adverse weather with people tuning in to find out what was going on, but only hearing music being played back-to-back.
"I am pleased that there have been expressions of interest to take on the running of the station. What is important to me is that we continue to have a local radio station and I intend to make my own enquires and help to facilitate this."
The station has been broadcasting since 1993 on AM and was previously owned by [link=http://www.mediauk.com/owners/18/murfin-music-international]Murfin Music International[/link].