Bad news today for fans of alternative rock music station TXFM as it's been announced that its license will not be renewed and it's set to close down.
The station was formerly known as Phantom from 2006 but re-branded as TXFM back in 2014, and unfortunately it hasn't managed to be a success in monetary terms for its shareholder Communicorp.
Gervaise Slowey, CEO of Communicorp said; "It is with great regret that we have come to this decision, however despite a recent re-branding and a restructuring of the business, it has not been possible to make the station commercially viable. Communicorp are committed to funding their share of the redundancy costs."
A total of six full-time people are set to lose their jobs from the station, although it won't be until October 26th when the license officially expires.
The Broadcasting Authority of Ireland said on Wednesday in a statement, "The Contract Awards Committee had initiated a competitive licensing process, having received two expressions of interest in the provision of the service on 1st December 2015.
"The contract for this service is currently held by Dublin Rock Radio Limited, broadcasting as TXFM. This contract is scheduled to expire on 26th October 2016.
"The BAI’s Contract Awards Committee will consider the matter at its April meeting and a further update will be provided in due course."
TXFM's parent company, Dublin Rock Radio Limited also released a statement with Chairman Trevor Bowen saying; "We would like to thank the staff, the presenters, the contributors and above all the loyal listeners that supported the station since its launch 10 years ago."
Big loss for Irish radio if you ask us, here's hoping somebody steps up to buy that license.
— TXFM (@TXFMDublin) March 30, 2016