There is not one unique answer and depends on what and where you are broadcasting or will broadcast.
If your station is going to play commercial music, as opposed to a talk radio station, you may need to obtain a license in order to fully protect yourself and ensure you are not infringing on anyone else’s copyright.
However, if you’re planning to play royalty free music or to hold a talk show then you’re free to do so without paying performance rights to performance right organizations (ASCAP, BMI, SESAC…). However, you’ll still need to get a licence.
If your station is going to be broadcast in different territories, you may ensure you got a licence for each of these territories.