Blyth, a businessman and a fan of guitar-based music, will be non-executive chairman of the bid to bring the rock station to the Solent.
Emap chose Kerrang! Radio after it discovered a gap in the market that is currently dominated by mainstream commercial stations.
Kerrang! Radio is currently available on FM in the West Midlands and nationally on DAB, satellite, cable and Freeview. Emap won the West Midlands FM licence with Kerrang! in 2003, with the Birmingham-based station launching in June 2005.
If the group is successful in its Solent bid, Kerrang! 106 would broadcast "all things rock" from the last 40 years, alongside relevant news, lifestyle and programming features.
The new local radio FM licence will cover the Solent area, comprising most parts of South Hampshire, East Dorset and the Isle of Wight, and the south-western corner of West Sussex.
Blyth said: "I wanted to become involved in this bid due to the outstanding reputation of existing Emap radio stations that provide a dedication to local service and community involvement as well as live music and a keen support of local talent."
Joining Blyth on the board will be: Steve King, head of radio development at Emap Performance; Piers Kannangara, company director, designer, and music and fashion promoter of Addict Clothing; and Peter Ashton, journalist and author.
Kerrang! Radio has won five industry awards in the last 10 months, including Station of the Year in the Music Week Awards and has 1.13m people tuning into the station every week.
Bidders for the licence have until May 5 to submit their applications to Ofcom.
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