Expanding on that point, "Nassau-Suffolk" is a rated market, and sometimes people believe this makes it separate from the New York City rated market.Long Island is part of the NYC Nielsen market, and LMAs count against ownership cap. Audacy can't add any more FM signals there, whether owned or leased.
Actually, Nielsen has a number of "embedded markets" which are portions of geographically large markets which have separate "subset" reports issued. All they are is a breakout of a portion of a market into a separate report, but with the same sampling quota standards as the full market.
Another good example of an embedded market is San Jose, CA. There, a single county of the huge San Francisco market is tabulated separately and given as a report that allows the smaller coverage stations there to use ratings to sell advertising.
In all cases, the "mothership market" (New York and San Francisco in my examples) fully includes the embedded markets, so the results are not additive.