It's a substitution cipher: A=1, B=2, ..., Z=26.
Decoded, it reads (station 675-525):
I WILL RETURN BATMAN
There are also two other messages that you do no get until later in the game. One of them is (station 500-900):
5 15 9 7 21 18 18 14 3 5 24 15 12 7 22 3 10 5 15 9 22 3 8 25 26 15 16 25 10 15 17 25
This one is still a mono-alphabetic substitution cipher, but with a slightly different code: A=3, B=2, C=1, D=26, E=25, ..., Y=5, Z=4.
When finally decoded, it reads
YOU WILL PAY FOR WHAT YOU HAVE DONE TO ME
The last one is (station 200-500 - you have to beat the game first??)
3 20 26 18 26 16 24 1 11 4 24 9 3 8 5 2 12 18 6 16 7 11 3 10 17 5 13 4 21 8
Unfortunately, this one doesn't seem to be a mono-alphabetic substitution cipher - no matter what substitutions we use, we get gibberish:
CTZRZPXAKDXICHEBLRFPGKCJQEMDUH
There are rumors circulating (originating, it appears, with IGN) that when decoded, this reads "I am your darkest nightmare dark knight. Gotham city waits for his savior." However, this is clearly wrong - there are way too many letters!
Fortunately, not too long ago one of the super-sleuths on Batman: Arkham City forums decoded it:
If you do atbash then treat it as a Vigenère cipher using the key SCARECROW, then do atbash, the message comes out to:
FEAR WILL TEAR GOTHAM CITY TO SHREDS
Therefore, it is pretty obvious the messages are being sent by Scarecrow.