As FredL said, syndicated talk radio is easy and cheap. I just want to make one amendment to that: It's certainly easy (you don't have to groom local talent) and much of the time it's cheap. Unless you're the station in the market paying for the right to carry Rush Limbaugh. It's one of the few programs (because of its ratings history) for which a local station has to clear minutes of network commercials each hour the show airs, plus pay a cash fee for it. I worked at a medium market news/talk station in the 90s. We were paying $6,000 a year for Limbaugh THEN. Now, it's 20 years later. As I've mentioned before, while the exact price is not available, it's generally known that the largest market stations now pay six figures per year for Limbaugh.
My prediction: Over the next five years, you are going to see a significant number of current Limbaugh stations in PPM markets (top 50) drop the program. Three reasons. 1. Combination of giving up local spot avails and having to pay big bucks for the program will make it financially undesirable 2. Demographics for the show keep getting older 3. He will continue to say things that will scare away advertisers. Premiere will be forced to either drastically cut the fees its charging for the show, or make sure Clear Channel has a station in the market where it can park his and other syndicated talk shows. Cumulus seems poised to get rid of Limbaugh on the former ABC-owned large market stations where he currently airs. Why else would CC be interested in buying WOR in NYC?
Also within that time period, I predict CC will have a difficult time finding ANY station (other than one it owns) in Philadelphia to carry Limbaugh and his like. Philadelphia was the last top 10 market to get a major Limbaugh affiliate. Last in, first out.
Limbaugh will continue to do well in Arbitron diary markets in which his fans can put down that they listen to him all three hours a day, five days a week, when their listening is actually much less. Also, local sales people can prevail upon local business owners who like Limbaugh to continue to sponsor the program. But this won't work in PPM markets.