I still pitch in over there from time to time, but am not privy to the nuts and bolts of the organization. I DO know, however, that they do not subscribe to Arbitron, and whether that still merits a station's placement on the ARB's or not, whether they are a paying member or not, I have no idea. I also know that they place a high value on podcast downloads, which they contend is a high number and enough to take to potential advertisers as a selling tool. Reality here is that any AM that wants to be heard in the 'ivory towers' in Downtown Dallas or FW must broadcast on the web as well (or instead.)
Biz's concentration has always been on the Houston market first. Making an all-out push to bring in the DFW listeners has always taken a backseat. Now with the proposed move to FW, and a new position on the dial, perhaps that will change. But as far as their viability, profitability, solvency, and their other expansion plans, I can only guess that Frishberg will keep it on the air as long as he and his investors have the money to do so. Sure, it's catering to a narrow niche in its current form, but until the checks stop cashing, I'll have to assume there's no major financial issue there.
Why would someone invest in an hour of programming? It's inexpensive. Sure, you'll have to do the legwork to generate your audience, but compare an hour on WBAP to KMNY...about 10x the difference. If you're an entrepreneur just starting out, most other English AM stations that peddle weekend hours will be way out of one's budget. Lots of those shows "graduate" from KSKY, KMNY, 1160, etc to bigger stations as time goes on; others either go broke in the meantime on the smaller stations, or find other ways to spend their marketing bucks instead.