The station will initially air six hours of programming a day on Sky Channel 235 from October 4.
If this proves successful, TalkSPORT plans to launch its own station from next year offering viewers additional hours of coverage.
TalkSPORT TV will allow fans to watch coverage from the studios, where it will film presenters as they host discussions and receive call-ins from viewers.
A TWG spokesman said it would cost the company less than £500,000 a year to run.
Of the major national commercial stations, TalkSPORT saw the largest growth in share, up from 1.7% a year ago to 1.9%, as it posted its best-ever Rajar performance in May this year.
TalkSPORT had 2.1m listeners a week in the last quarter, up 15% from the previous period, making it the number three commercial station in the UK. However, the row continues between Gfk's electronic measurement system and Rajar, with Gfk issuing a statement today that claims TalkSPORT has three times the audience, at 6.3m, that Rajar claims.
TWG recently announced an impressive set of interim results in the six months to June. Group operating profits before tax and interest rose 108% to £1.2m, while TalkSPORT increased revenue by 32% from £5.5m to £7.2m, mainly due to increased audiences for the Euro 2004 football tournament.
TalkSPORT also saw a good start to the second half of the financial year with revenues up 18% in July and 43% in August compared with last year.
MacKenzie, chairman and chief executive of TWG, said: "TalkSPORT is really storming along and our locals continue to produce tremendous profits. I look forward to the future with confidence."
The group also saw a significant increase in advertising with men's grooming products such as Gillette and Nivea for Men running major campaigns during Euro 2004. TV advertising on Sky Digital could considerably bolster its ad revenue.
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