I would greatly assume it would just sign back on from where it signed off. I'm sure the transmitter is long gone, the coax is probably shot from neglect but the antennas might still be up there. Getting the thing back on will be a minor drop in the bucket compared to what it was purchased for. As is, 104.1 can't really move anywhere and certainly can't upgrade. The winning bidder owns 50% of KHSE 700 so I would greatly assume it will be a similar format if not the same format heard there.
FWIW, Radio Caravan is not on 94.5 anymore in fact all the HD subchannels were missing yesterday and this morning. I assume it will all be going to 104.1, though I don't think HD would work all that great on that stick.