Leykis has already created his own network with New Normal. All he has to do is plug himself in once his contract runs out. He has maintained his fan base via New Normal, Facebook and his website and he pops up in the media from time to time just to remind everyone that he is still with us.
Most likely he will take a route similar to what Heidi and Frank are doing. They stream a live 2-hour program everyday. The live stream is free to anyone who wishes to listen and they take live calls (lots of them). VIPs pay something like $5 a month or $50 annualy and have access to live streaming video and on demand listening and other exclusive content. Frank has been building out his Toadhop Network with shows from other people (Gina & Randy of the Pretty Good Podcast, 2 Guys and a Mic, Huff & Stapes and others) and should have 24 hours of continuous programming very soon, if not already. He has some other major things coming in the very near future which should help to increase the visibility of the H&F show locally.
With Tom's fanbase and his financial resources he could easily do something similar, and as I pointed out, has already laid the groundwork for it. I would imagine that an un-censored Leykis show that doesn't have to kowtow to the FCC or some stodgy media behemoth can and will be quite succesful (provided he still has a voice by then).