I'm an outsider (don't live in LA any more), but if the new owners have the money to buy 100.3, and can afford to operate it and make a profit with a much smaller audience, that's obviously their right to do so.
Do you not know anything at all about the new owners? Perhaps some research is in order.
https://en.wikipedia.org/wiki/Educational_Media_Foundation
It's not about making a profit.