A consortium including former Republic of Ireland goalkeeper Packie Bonner has been awarded the local radio licence for the Sligo, North Leitrim and South Donegal area.
The Broadcasting Commission of Ireland said contract negotiations would now take place with the Ocean FM Radio group, headed by Sligo businessman Pat Clifford.
As well as Bonner, the group also includes crime journalist Paul Williams.
Two other consortiums had also entered the race for the franchise, including the current holder North West Radio.