I think this is a solid move. Consider that Cox Media Group is one of the most successful operators of radio stations in the US. They aren't the largest, but they are a well-run, family owned business that has multiple platforms to promote their products to their consumers.
From a newspaper standpoint, they (CMG) have done a great job growing online businesses, and with a mountain of current information to connect with readers, subscribers, and other users of their brands, it would make sense to offer them another form of entertainment from a trusted source.
CMG seems to be one of those rare breeds--a company with many opportunities that isn't afraid to be different, try new concepts, expand and promote those that are successful, and shut down those that don't make it.
I know I'll get flack from my fellow SA radio folks who've watched Cox go through some ups and downs with the mix of music on KISS, and multiple "format of the week" formats on 106.7, but they're smart operators and good people. Y100, KONO, and Magic have been heritage stations in this market for more than 15 years, and with the exception of the PPM tweaks and adjustments being implemented at 99-5 (which they'll get right and back on top), you cannot argue with their success, strategy, and formula. If it can translate to an internet based approach, or even develop into a Pandora- like product, they could be on to something big in a tech fluent market like Austin.