Hi, Anything is possible, but the royalties for the program material could be killers. If you generate your own content then that would not apply....but I suspect that you would shortly run out of material and not be able to fill up the time.
Royalties will be a problem with streaming the music of artists. However, the authority that regulates or controls the playing of music for commercial use can create a license for radio freelancers to have in order to play that music.