This, lifted from Wikipedia, about Queen magazine is pretty much in a nutshell the origins of Radio Caroline

1962 the magazine was retitled to Queen.

The ideal reader of the new Queen, as envisioned by editor Beatrix Miller, was 'Caroline' — a persona detailed in a style guide given to every contributing writer so they knew exactly for whom they were writing.[1] According to Clement Freud the fictional Caroline had fair long hair, left school at sixteen and was the "sort of person one ended up in bed with".[8]

In 1964 in an attempt to reverse the Pilkington Report, Stevens financed a pirate radio called Radio Caroline (named after Caroline, Queen's ideal reader). Initially the radio operated out of the Queen editorial offices on Fetter Lane.[9]

Miller left the magazine in 1964 to edit British Vogue, where she remained till 1984.[7]

After Radio Caroline was banned in 1967 Stevens began to lose interest in the magazine, with the publication "going nowhere" and readers beginning to lose interest.[10][8] In 1968 he sold the magazine to Michael Lewis of Oxley