Andy Duncan, chief executive of Channel 4, announced the appointment and plans to enter the UK radio sector at the Oxford Media Convention today.
"Radio could be a perfect fit with our digital strategy," he said. "Our aim is to contribute something new to the radio mix by offering a public service alternative to the BBC in genres like news, current affairs, entertainment, lifestyle, comedy and music."
Channel 4 currently owns a controlling stake in digital radio station OneWord, which does not give the channel much scope for growth.
As well as advising on the broadcaster's digital strategy it is likely Schwarz will handle a bid for a digital radio licence, as well as taking on management responsibility for Channel 4's majority shareholding in OneWord.
Schwarz joins Channel 4 after a year working as a strategy and development consultant to Dee Ford at Emap Radio. She was previously a director for Capital Radio for between 2001 and 2005, where she played an instrumental part in negotiating the £710m merger with GWR.
Duncan said: "Nathalie has been at the front end of consolidation and the changes wrought by digital technology in the sector during her time at Capital and we're delighted to be working with someone of her experience and calibre.
"The radio industry is going through a parallel process to the TV sector with digital technology opening up massive new choice for consumers and new creative and commercial opportunities for broadcasters."
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