Dublin alternative rock station Phantom 105.2 is to be rebranded next month as TXFM in a bid to turn around the station's flagging fortunes.
Staff were told yesterday the move would align Phantom more closely with national station Today FM. The stations have a common owner in businessman Denis O'Brien, who wholly owns Today FM and holds a one-third share in Phantom through Communicorp Group.
Phantom is also one third owned by Gaiety Investments, which is controlled by music promoter Denis Desmond, and Evergreen Ventures, which is associated with former U2 manager Paul McGuinness.
A statement released to The Irish Times said TXFM would retain its own targets, budgets and "market ambitions" and would work in "greater unison with Today FM" to capitalise on its "commercial strength and presence in the Irish radio market".
Today FM chief executive Peter McPartlin said: “There is still a real opportunity to deliver a sustainable indie music service for Dublin that will have a broader appeal.”
Ricky Geraghty, chief executive of Phantom, said: "We are very confident the station will be given a new lease of life through its rebranding."
Redundancies
Phantom, which launched in 2006, is implementing redundancies among its 16 full-time staff to make the station viable.
JNLR listener statistics for 2013 show its share of all adults was just 0.8 per cent. Latest abridged accounts for Dublin Rock Radio Ltd show it had accumulated losses of €4.2 million at the end of 2012.
