Brent,
Really do hate to burst your bubble, but other posters have said the same thing in different ways -- in any business anywhere in the world -- not just Atlanta -- you have to have a product that will attract customers. Oldies (actually my favorite format, too) does not attract customers in Atlanta. Don't know if all +60 have moved away (or died) or don't listen to radios any more, but the people willing to pay for commercial time on stations that attract that age group aren't getting the bang for their buck. If there ain't no income there ain't no show.
I make do listening to Sirius/XM channels or finding Internet stations, or listen to my own library. FOX97 was fun in Atlanta, but once the income it could generate died, it had to pass on, too. It wasn't a great conspiracy, it was economics …
You say it could be done right. Okay, give me a rundown of advertisers today who want to sell products to +60 listeners. Then see if those companies want to buy time on a station. Then see if the audience wants to listen to those ads.