One day, for some reason, the breakfast DJs were fired from the station. They responded to this injustice by going on to form their own radio station, simply naming it Radíó 103.7. A big advertising campaign followed, and the new station became as popular as Xið itself.
The story becomes a bit sketchy at this point, but for some reason the two rival stations merged to become Radíó X 103.7. Xið was no more, 97.7FM was now white noise, the Tvíhöfði kept their breakfast show and all was well with the world.
Today, a development in this wondrous story. I tuned into Radíó X's on-line stream ( lo | hi ) to find that in a miraculous twist of fate, all the jingles now say "Xið, 97.7". The station is simulcasting on 97.7FM and 103.7FM in Iceland until enough people realise the change and switch over to 97.7, at which point Radíó X 103.7 will cease to exist.
Back to square one, then. Don't you just love a happy ending?