The biggest issue here is that the two TV operators sell "stuff" that local advertisers love at rates that are not much higher than radio rates. Those advertisers love to have their pictures in TV ads along with shots of their dealership or restaurant building and interiors or air conditioning service trucks or the like. Some use their kids jumping on mattresses or talking about patio remodels.I still think I could run a combination of KWXY and K270AI on a shoestring, if they could be acquired at a reasonable price. You'd be surprised how low the overhead is at KRKE/K229CL.
I talked a lot with Gary Wing when he owned the two stations and translators here, and he said, essentially, that you could be sold out at the low ad rates and still not make money.
