Digital-only radio station Planet Rock has been taken over by a team including Black Sabbath's Tony Iommi, Jethro Tell star Ian Anderson, Marillion's Fish and Gary Moore.
The buyout is financed by Malcolm Bluemel, a millionaire businessman and rock fan.
Bluemel said: "The people at Planet Rock and their listeners are passionate about their music and their station, which is why I wanted to step in and help make it happen.
"It has an authenticity and integrity booming out of it. Now we aim to take it to the next level, preserve all that's great about the output and utilise other platforms to serve an even bigger audience in a wider variety of ways."
Queen guitarist Brian May was part of another group hoping to take over the station, which GCap Media said it intended to close earlier this year.
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