Yes. Using the standard technology that modern day FM pirates use of just hooking into a discrete stream, then your new radio station can be anywhere. If you compare and contrast the figures for acquiring and equipping a boat and keeping it 'on station' at sea, then spending the same amount of money would get you far superior coverage on land by just having a massive network of relays/repeaters with an efficient team keeping them on the air.

Plus, if as part of your programming you ask for people to relay the station wherever possible, then you've got mass civil disobedience with urban freedom fighters helping the station stay on for longer. It would make far more sense to have this real alternative station talking about 'the truth' relayed by those nut-jobs that normally randomly relay Radio Caroline or tapes from decades ago of people just playing records, surely?

Real revolution from a real radio station.