Internet Radio Station

[WPCE]

Please help....I've read all around the Winamp site but still am a bit lost:

I spent 12 years in regular radio broadcasting/production, but trying to figure out the best route for what I would like to do in internet radio is absolutely mind boggling (especially given that start-up dollars are scarce).

As briefly as possible, the following is what I would like to accomplish:

1) each set of music personally pre-programmed with optional spaces in between sets to add programming content.

2) ability to insert audio content from other internet programs and clips -such as from youtube, etc. (unless that is considered stream-ripping..I am unfamiliar with the term).

3) ability to insert my own prerecorded audio content (voice work)

4) ability to interact with listeners via internet page (Facebook?)

5) ability to find sponsors/create own ads/manage dollars

I don't want a 'live' station, rather, one that sounds current and topical.

As a former broadcaster, I do understand royalties, but not how they may or may not apply to internet content (again such as interviews, etc on youtube). I have read many pages about internet radio start-up, but I am still unsure as to the best software and server. Please, do you know of any that will allow me to perform the functions as stated above? Of course, I will start very, very small with limited ports. Many thanks.