TWG plans to launch AllTalk in Edinburgh by the end of the year, and will also bid for the Manchester and Solent licences with the new format.
TWG intends to take on the BBC as the most-listened-to talk radio network.
"Speech radio has been the dominated by the BBC with more than 10m adults tuning into a local or regional BBC service every week. AllTalk FM will challenge this dominance," Callum Macaulay, director of development for TWG, said.
The Wireless Group won the FM licence for Edinburgh, beating 11 other applicants including Emap, Chrysalis, GWR and Scottish Radio Holdings last December. It originally planned to call the 24-hour talk-radio station Dunedin FM.
"The Wireless Group is committed to creating a network of local and regional speech stations across the UK," Macaulay added.
The Manchester and Solent FM licence is still up for grabs with TWG and Emap's Kerrang! radio brand confirmed as bidders.
They have until May 5 to submit their applications to Ofcom.
TWG also owns two other radio stations in Scotland, The Wave 102FM in Dundee and QFM in Paisley, as well as 14 other local stations in England, which it may rebrand to AllTalk if Edinburgh proves successful.
The news comes as TWG has seen Ulster Television enter exclusive talks to buy the company, casting doubt on the future of its chairman and chief executive Kelvin MacKenzie.
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