Does anyone have any insight on starting a internet radio station?

As I have stated in a previous question I go to school for music business in the institute of audio research. There is plenty of music made here and aspiring artists looking to get there foot in the door. I recently had the idea to have a radio station specifically for the school. After just googling I found out that that its not too hard to start. What I really want to know is if anyone knows anything about this topic and could shoot me a few pointers.