Digital Radio

I love radio and the idea of digital radio broadcasts really intrigues me. My understanding of the technology is that along with the audio transmission a stream of data can be sent at the same time allowing text information to be transferred. While a song is playing the artist and title could be displayed as well as weather or other information.

What I wonder about is that will the digital broadcast open up more of the broadcast spectrum? Could two different stations broadcast at let's say 800 AM and 810 AM at the same strength and both not bleed into each other? My hope is that it will, allowing more radio stations to open up shop.