Ask HN: Internet Radio Station Options

A friend of mine use to own a very prominent record store back east and wants to setup an internet radio station; googling doesn't really yield anything that looks that great. Wondering if there are any new options, new startups, etc, out there that offer a service or even software that you setup/host yourself. Paying a month host fee or service fee is fine, like to keep that as low as possible since this is an experiment for him.

Thanks!