Talk that will pull ratings in younger demos will not necessarily have to be FM-based. Issues of audio quality which mean the world to music listeners aren't that big a deal for fans of spoken word programming. If the signal's clear and listenable, people will find spoken word programming they like and stick with it wherever it is on the dial, AM or FM. We know this from repeated studies done by ABC both before and after Disney owned it, right up to the time a few years ago that they sold off their station group to Citadel.
But wherever you put the programming, AM or FM, the CONTENT will have to appeal more to younger listeners on two levels.
One (and I hate to say this as a 50-something myself but must acknowledge it), it will have to be presented by younger hosts. The most recognizable names in talk radio today both locally and nationally are all 50+, and that even includes Howard Stern, who does have an ability to get 20-something men in his corner because of his more free-form attitude but is almost unique in that regard. We need to find a new generation of hosts. Since they aren't being heard on large market stations today and aren't being trained on the mostly automated or syndication-fed medium market stations that used to be radio's Double-A and Triple-A leagues, they'll have to be pulled from the ranks of disk jockeys, standup comics and stage actors and actresses, and convinced to try radio because it's steadier and more reliably-paying work.
Two, it will have to reflect the values of the 18-49 crowd. They continue to be the core of Barack Obama's support, not John McCain's or Sarah Palin's or the Bushes'. They're more liberal economically and culturally, more libertarian in terms of their views of government's role in people's personal lives, and more suspicious of any attempt by authority figures to tell them how to live--very much out of phase with Limbaugh, Michael Savage, or Hannity, who not only don't embrace those values, they're outspokenly intolerant of them and insulting toward people who think differently from them. There aren't too many right-of-center hosts out there who don't insult those who disagree with them. You have to credit Sandy Beach in that regard; any time I've listened to him he's been civil and courteous when he disagrees with a caller or guest, even though he's outspoken and passionate about his own views. That's fine, that works. A guy like him can reach out and appeal to people across the ideological and cultural divide, and succeed in any social and political climate. But I don't think most of his contemporaries can.
What does this mean for heritage stations llike WBEN? I can tell you what worked 30 years ago, the last time WBEN hit a watershed moment in its history, when Larry Levite and Bob Wood rebuilt it. They brought in a new generation of talent drawn from their target audience (which at the time was people born between 1930 and 1960). I was there. It worked, spectacularly, took WBEN back to the top. Nowadays that station still connects with that generation and dominates it. But the audience, and the talent, are aging out of the group advertisers want. The new core demos don't connect with it any more, unless there's a raging snowstorm. This is happening at heritage stations all over the country. Time for a reboot...and refreshing the talent roster and the station's content and tone may be a hell of a lot more important than any thought about leaving 930 and moving to 102.5 (which is probably unnecessary)...