Simplify the following text for a Grade 8 native English-speaking person.
Original: Originally named Piccadilly Radio , from its set up in 1974 , the station was renamed in August 1988 when it was decided to re-brand Piccadilly Radio 's FM frequency to the new name , with a younger target audience in mind .
Simplified: It was first named Piccadilly Radio , from its set up in 1974 . It was renamed in August 1988 when it was decided to re-brand Piccadilly Radio 's FM frequency to the new name , with a younger target audience in mind .