Looking at the info on file for this translator -
http://www.recnet.com/cdbs/fmq.php?facid=150311&jaws=0 - it is another outpost of Edgewater Broadcasting, Inc. - part of the "Great Translator Invasion" of 2003.
My guess is that since WFRN's translator group "Friends of Christian Radio" (apparently) didn't want to buy it, that they are either waiting for a buyer, or waiting for a change in translator regulations that will allow them to use a satellite feed in the non-reserved band, at which point they could place Edgewater's own "Freedom Radio FM" programming on the translator. See more about that at
http://www.freedomradiofm.com/ and
http://www.edgewaterbroadcasting.com/ .
One other possibility is that Edgewater might try to use some creative engineering to move the translator down into the non-com band, which would then allow it to be satellite fed. Putting it on the air now, however, was required by the CP.
Looks like Edgewater also has a translator in a similar situation at 100.3 in Granger -
http://www.recnet.com/cdbs/fmq.php?facid=152865&jaws=0 for more info.
It would have been nice if Edgewater could have carried WLFQ-LP 98.7 on both those translators. It would represent a real coverage area increase for them, as opposed to having even more frequencies simulcasting WFRN.
What I want to know is when WSHW plans to put those two translators in Logansport on the air, and whether they will both carry WSHW programming, or if they might bring some new formats to the area.