Actually... it looks like they own 104.7 and 104.9, and both rebroadcast WLOU. Or, did own in the case of 104.9... it's so hard to keep up with these translators! 104.7 is out of New Albany and takes care of the western half of the county and 104.9 is out of Middletown and takes care of pretty much everything from about Bardstown Road on east out into Oldham County.
In any event, this isn't so bad in this case. They could afford to get rid of 104.9 very easily, it would be foolish to get rid of 104.7.