One other thing I see. If WNGC were to move to Chateau Elan, they would probably still be far enough out to not overlap with WALR--the thing that's holding up WSBB's move intown (which would overlap with WALR), due to Cox's ownership of the AJC--if they also downgraded.
Of course, if Cox gets their cross-ownership waiver re-upped then that is moot, and WSBB will be headed intown and who knows what Cox will do with WNGC and the empty space on the Chateau Elan tower.
Also, IIRC the city of license of WNGC changed from Toccoa to Arcade a few years back, without a facility change. A move to Chateau Elan would still easily city-grade Arcade, even with a downgrade, but no longer Toccoa.
Is this something that Cox has been planning for a while?