Internet radio station seeks investors in Cyprus

Spiceradio.net, the first exclusively Internet-based radio station, is looking for investors who want to join the venture and take advantage of the advertising and revenue potential.

Veteran radio producer Malcolm Morris, Managing Director of MGN Spice Radio & Media Co. in Paphos, told the Financial Mirror that a second web-based venture is also in the works and both should be broadcasting “very soon.”

“We are establishing ourselves as a commercial venture and have lined up several advertisers,” Morris said, adding that the attraction for investors is the potential advertising revenue.

“We have two categories of investors – the short-term non-voting shares for investors who seek a quick exit, and the longer-term voting shares, which is where we expect our future partners to contribute in kind and experience, combined with our know-how,” he explained.

Initially, Spiceradio.net is offering a total of 40,000 shares of both categories at CYP 1.50 each in order to raise some CYP 60,000. Minimum investment is for 200 shares.

“This investment represents less than two year’s worth of advertising revenue, which is why investors will be attracted to join us. We may even reach that target sooner.”

The technology has been brought in from the U.K., and Malcolm Morris together with his associate Geof May have already structured the broadcast schedule.

“The problem with some of the music channels is that they do not cater to any specific age groups. We will have an all-English channel with DJs and presenters promoting Cyprus hotels, restaurants and other attractions and services,” Morris said. Spiecradio.net has already been selling advertising space on the test site, while the second venture will look to attract dating, social and community services.

As regards the audience, he said that beyond the online links, listeners may also pick up Spiceradio.net through commercial contracts that are being discussed with hotels, bars and restaurants.

“Even the new technology is on our side as the latest craze in the U.K. and U.S. is to listen to the plethora of radio stations on the iPod or GPRS-enabled mobile phones,” Morris said. He can be contacted on 96 394935 or by email, [email protected] .