Former Sun editor and Talksport founder Kelvin MacKenzie is to launch two new radio stations dedicated to London listeners in the New Year.
CitiSport and CitiTalk will go on air early next year after receiving heavyweight financial backing.
Funders included Hargreaves Lansdown founder and Bristol City owner Steve Lansdown, Saracens rugby owner Nigel Wray and Charlton Athletic football director Richard Murray.
"London is a global capital and deserves to have its own sport station centred on the locale they know," said MacKenzie, who saw his Sun column axed earlier this year after comparing Everton footballer Ross Barkley to a gorilla.
There is only so much of traffic jams from Bangor that our smart and time-poor listeners can take.
Our company is very ambitious in the audio and TV area and would be looking to go public over the next couple of years.
The stations will be broadcast on DAB and AM frequencies with a potential coverage of 12m listeners.
MacKenzie was the editor of the Sun between 1981 and 1994. He launched TalkSport in the late 1990s, selling the station a decade ago for £100m. Last year Rupert Murdoch's News Corporation bought the station for £225m.