Emap has been given the green light by the Broadcasting Commission of Ireland (BCI) to proceed with the sale of national radio station Today FM. The regulator yesterday waived a rule which prevents radio licences being sold on within two years of being issued by the BCI. Ciarán Hancock, Business Affairs Correspondent, reports.

Today FM was awarded a second 10-year national radio licence in February 2006, to take effect in March of this year. This rule could have scuppered Emap's plans to sell Today FM, Dublin's FM104 and Donegal's Highland Radio, which are set to sell for more than €200 million.

In a statement, the BCI said that it had agreed to waive the provision, having had regard to a number of issues. These included the fact that there was no other applicant for the licence. It had also considered Emap's track record to date in the control and operation of its Irish radio interests, including Today FM.

The commission had also considered the uncertainty which delay could create for staff of Today FM and, potentially, the other stations involved in the sale.

Today FM chief executive Willie O'Reilly said: "This will give certainty to our staff and we look forward to working with the BCI in relation to the sale."

The BCI also cleared the sale of the majority shareholding in Waterford stations WLR and Beat FM to Thomas Crosbie Holdings.