The new trade body will also encompass the activities of the JICRIT research programme, the Hit40UK chart show programming and the Radio Advertising Clearance Centre.
The move follows recent reports that radio companies were keen to introduce more effective ways of marketing the medium in light of commercial radio's falling share against the BBC.
The body, as yet unnamed, will provide one point of contact to handle both regulatory issues and marketing of the medium with a single chief executive. This is likely to be the RAB chief executive Douglas McArthur, with CRCA chief executive Paul Brown said to be close to retirement.
Paul Brown, CRCA chief executive, said: "There are considerable challenges for commercial radio and recent consolidation has changed the shape of the industry. The aim of creating a single commercial radio industry body is to pull our industry back into growth and to strengthen the position of all of its members with external organisations."
Douglas McArthur said: "Radio is firmly at the centre of media convergence. A new cohesive and forward looking industry body should deliver a more valuable joined-up service to the advertising business in this digital future. This move is positive for advertisers in that it moves the RAB team closer to core decision-makers in commercial radio policy and programming."
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