What is light? A centuries old question!

   James Clerk Maxwell developed his electromagnetic wave theory of light based on the following facts. a) An oscillating magnetic field creates an oscillating electric field (oscillating electricity) in a conductor b) Flow of electrons in a conductor creates a magnetic field around the conductor and oscillating electricity in a conductor creates an oscillating magnetic field around the conductor c) Faraday effect- the rotation of the plane of polarization (plane of vibration) of a light beam by an applied magnetic field. Maxwell believed that oscillating magnetic field causes an oscillating electric field, which then causes another oscillating magnetic field. He proposed that light has both electric and magnetic field components, which oscillate in phase perpendicular to each other and perpendicular to the direction of propagation. 
   But new studies indicate that, a charged particle like electron has a standing electric field and magnetic field at right angle (electron has both electric field and magnetic field simultaneously. See structure of electron). Light or radio wave is emitted when charged particles vibrate parallel to its electric field and horizontal to its magnetic field. That is, radio wave and light are simply "string of oscillating magnetic lines".

See: How radio waves are produced?