Follow Auction Live today on radioinfo

DMG Radio is the hot favourite to win Melbourne’s new FM licence this afternoon when it goes to auction – in what will be the last of its kind for five years. Senior DMG staff Kingsley Hall and Cathy O’Connor will bid for the licence in Paul Thompson’s absence.

Apart from DMG, there are six other registered bidders for the new 91.5 FM frequency, which will be held at Le Meridian Hotel on Collins Street (pictured)at 2pm. Other bidders include Macquarie Radio Network, Virgin and RG Capital Radio.

Noteable absentees will be Austereo, Southern Cross Broadcasting, ARN and DCL – they already own two licences in the Melbourne market.

Paul Thompson will not be at the auction this afternoon, he will be on a train in Central Australia, celebrating a long promised milestone with his wife.

As with previous auctions elsewhere, there is a reserve price of $1 million.

DMG paid $70 million at the last Melbourne auction four years ago and launched Nova 100.

If successful in Melbourne, DMG might well target a 40 plus audience, as is the expectation in Sydney.

Once again, radioinfo will take you right to the auction block for a bid by bid description of the Melbourne licence, as it goes under the hammer.

Be here from 1.45pm. The auction is due to start at 2pm. Keep your eyes glued to the screen and keep your finger on the refresh button. Things tend to move fairly rapidly once bidding commences.