Having only just shut down NME Radio, the plan now is to, erm, revive NME Radio:
NME has signed a deal with Town & Country Broadcasting which will see the station return to presenter-led shows as of September.
The station can currently be heard on Sky Channel 0184 and via NME.COM/radio, with DAB and a new iPhone app set to follow soon.
That makes sense. Invest a load of cash in setting up a radio station. Do promotional stints on FM licences. Take it to DAB. Shut the thing down and get rid of the presenters. Take it off DAB. Switch to just streaming music like a Last FM you don't control. Give it a couple of months. Announce a new service, but be a bit a vague about.
That's the way to build an audience, right there.