Absolute, which was founded by former Capital Radio executives Donnach O'Driscoll and Clive Dickens in 2001, beat four other bids to land the licence, including Castle FM, More FM, Fox Gold and Inspire 106.
The Oxford licence covers a potential 300,000 adult listeners and will on be on air by March 2007, targeting the over 40s.
Jack FM will share premises with another local station, Passion 107.9, which Absolute acquired in June.
The Manchester and Liverpool licences are due to be decided by Ofcom in the next few months. Liverpool will be decided first and is expected by the end of the year.
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