The Media Bureau does not preassign frequencies for LPFM, Ted. When there is a filing window, applicants have to do the necessary engineering studies to show that use of the frequency being applied for will not cause impermissable interference to full power FMs. One factor that makes "shoehorning" a frequency in somewhere is that there is a waiver process in regards to second-adjacent stations (in the case of this station, that would be KXOL at 96.3 and KNX-FM at 97.1), but the applicant has to request same, and I believe the stations have the right to submit their own engineering studies in opposition.
@Michi (generally regarded as
the expert on LPFM) and
@fybush know a lot more about that than I do, though.
Shared time situations result from mutually exclusive applications which cannot be resolved by the usual point system. Unless competing applicants decide to drop out, this is the process. The applicants have to agree among themselves what hours each gets to use the frequency, they file that schedule with the FCC, and the hours are then specified on each license.
In L.A., the number of frequencies that are usable for LPFM are very limited in number, so I'm not surprised at the three-way share time on the Hollywood station. Why were you wondering?