Audiominutes is now offering fans groups the chance to run their own ‘5-Live’ style phone in free of charge. Each group is allocated a local access number, which connect them to the ‘show’. Access is controlled by the host either on a PC or tablet. The host can bring callers into the discussion which is webcast live, and automatically recorded and published as a podcast. the host can also mute callers or disconnect them. Up to 8 callers can participate and more than one host can be present.
The host can play pre-recorded interviews etc into the show and can add jingles too to create a professional sounding end product.
See here for details