It depends on the specific action. If you're talking about the format change to sports, the strategy should be obvious. There are partnership agreements in place between iHeart and various Cleveland sports teams. While those teams currently air on some iHeart stations, the company doesn't have a dedicated sports station in Cleveland to handle all of the partnerships. Even Audacy, which has a partnership with the Browns, has an arrangement with Good Karma for the regular team-mandated programming. That's likely the "business practice" behind this decision, as laid out in the release.
The relationship between radio and music has been in trouble for 30 years, since domestic record labels were bought by foreign conglomerates. My sense is that the priority at radio companies will be towards original content, and less with music. Especially given the royalties and rules involved in streaming music.