This ship sailed years ago, but 94.7 really shouldn't belong to any of the national owners, two of which have failed to resist the fallacy that this signal can somehow compete in the country's #1 media market. It can't. Poor performance in Manhattan (overrun with static in my apartment on the West Side, presumably struggles with building interference in cars - I wouldn't know, I've literally never been driven by someone who was playing this station) ensures that.
Where it can compete is in New Jersey. Yes, the local spend pool is significantly smaller than the one accessed by targeting the city. But it's the only pool to which they have access, and there is a track record of stations successfully hyper-targeting shadow markets (see: WKXW, WALK, WBLI, KOLA). I don't think any of the conglomerates are willing or able to deploy a local sales operation west of the Hudson to maximize the opportunity.
With all of that said, country was particularly well-suited for this signal. WNSH regularly showed up in the Top 6-7 in the Middlesex-Somerset-Union market; I suspect it cracked the Top 5 in the money demos there. Classic hip-hop will not match that showing, and as others have stated, 94.7 is disadvantaged where the format's core audience does live. Same goes for a WINS simulcast, which needs to be reliable in the boroughs.
Adult hits would be a good match for the signal's geography, and would pair well with Audacy's existing holdings from a sales perspective. However, Audacy would be ill-advised to even slightly erode a CBS-FM that is struggling to maintain a Top 5 A25-54 ranking (I have my theories as to why that's so), to say nothing of a barely-viable WNYL.
In a nutshell, Audacy didn't have many options. I don't think this moves the revenue needle, but if they run it cheaply (and they will), Audacy may come out slightly ahead of WNSH.