With the greatest respect, I'm not sure I would consider the audience small, unstable or dead.
KIXI-AM in Seattle, owned and operated by Hubbard manages to create an interesting blend of old school community focused programming.
Variety retro music. Local public service programming as well as syndicated. Some sports. A considerable amount of evening OTR programming. Sure the audience blend is older, but it has cache that does translate to revenue and community service. It pays dividends in my experience because it carries to the other stations in group and into the business community. Will it makes heaps of money on its own. No. But it will make money. Yes.
So it begs this question. More modern audio drama programming and comedy is surging on other platforms among younger demographics. Combined with contemporary music format aimed at younger demo, could you see the reset and the return full service modern variety station?
Also I do agree David Eduardo's observation that the demos of Los Angeles might require something more fitting and targeted. Thanks for discussion and raising the observation.
Jack: Well, my "small, unsalable and/or dead" comment was in response to a suggestion of OTR exclusively---Jack Benny, George Burns, Dragnet reruns and CBS Mystery Theater. The number of people under the age of 54 familiar with any of those is probably pretty small.
What I learned from programming an independent TV station 15 years ago was that certain things happen when you program material from before your intended target's time. Younger people will tune in, but only some of them, and never enough all at once or on a regular enough basis to create a reliably salable quarter-hour average in the demo. Dumping "My Three Sons" and "The Honeymooners" and picking up "Frasier" and "Seinfeld" did wonders.
Your point about modern audio drama and comedy programming is a good one---podcasts are definitely broadening the listening habits of today's younger adults. But---the economics of podcasts are such that two or three minutes of commercials is pretty much the norm for half an hour worth of programming. Take that to terrestrial radio and the commercial loads will necessarily be higher. Could it sustain its appeal? Especially with lower-commercial options immediately available on the listeners' phones?