Possibility 3. They bought the brand, and may extend it to another station... but the kufx billing is no better than the less successful Entercom FMs in the SF area.
Isn't this an apples-to-oranges comparison -- especially in view of your point about 65 dBu contour placement?
That said -- bowing yet another Classic Rock format on a San Francisco-Oakland signal (i.e. 95.7 or 102.1) would be a moronic idea, in my view. Again, how many Classic Rock stations does one market need?!!!
After seeing The Wolf's latest ratings (which I believe are their worst yet), I would be shocked to see that station survive 2011. For cripe's sake -- KDFC is outcuming them by 200,000 listeners!!!
Is The Wolf even in the Top 20 in P25-54 anymore?