FNR Loses Licence

First National Radio has lost its licence to broadcast the first non-pop national radio service. The licence has been awarded to the next highest bidder, Classic FM.

FNR has requested the Radio Authority to extend the period it was given to secure unconditional financial backing; the Radio Authority met today to consider this request, and has decided not to grant this extension.

Classic FM’s £670,000 per annum puts it next in line for the licence. Classic now has to secure unconditional funding within the next six weeks.