No idea.
Both stations have had solid ratings. The River has slid a little lately, but that's likely a function of the overall format environment. B98.5 had consistently high ratings except for the holiday PPM.
I do not know why Mr. Reed was let go. I will say that I always felt B98.5 never would have gotten away with its partially Christmas format if another station had gone totally Christmas. Listeners wanting to hear Christmas music would immediately defect to the other station. And that's what happened this year. B98.5 did not react when Star 94 went All-Christmas. (And yes, The Fish had been going totally Christmas but with a religious slant.)
Realistically, I don't know whether it would have been possible for B98.5 to turn on a dime in this day when in addition to local programmers, there are national format captains and national program directors. And again, I don't know whether this had anything to do with Mr. Reed's dismissal.