A new internet-based radio station could generate more than $500,000 a year for the Houston Independent School District, reports the Houston Chronicle. K12RadioHouston is expected to launch in July as the first streaming station for a public school system. HISD and a media company plan to split the profits, which are estimated to reach $1 million in the first year. “You don’t need a transmitter. You don’t need a tower,” said Pat Fant, co-founder of RFC Media. “There’s not a public school district in the county that has its own full-time internet radio station.” Listeners will tune in through the HISD web site, a link in the KHOU (Channel 11) site, or via an iPhone application. While the station will be professionally run, students will have a role in producing content. Music will dominate the waves, but school performances, athletic events, and news announcements also will be broadcast. Formatting and commercials will target families of the district’s 202,000 students and 30,000 employees. While it’s an innovative revenue stream, some worry that the profit-sharing model could make children the aim of marketing at school…