Josh, you have no clue about the format, no clue about the market, and probably no clue about the business in general.
All-News is one of the most expensive formats to pull off. You not only need anchors but you need field reporters, feature writers, producers, etc. And the one time all-news was tried in South Jersey, it flopped miserably. There just isn't that much news nine months out of the year, and not even really during the summer tourist season.
Also, all-news is one of the worst formats for the kinds of ratings advertisers want in South Jersey. All-news is designed for people to tune in for short bursts throughout the day. It's repetitive; listen to KYW and except for updated headline stories everything repeats after about 60 minutes. The sports reports repeat when a game isn't on. The lifestyle reports repeat constantly throughout the day. South Jersey advertisers want people who listen for longer stretches, because it means they hear their spots more often and are more likely to respond to them, and that does not happen with all-news.
No one is going to invest the huge amount of money needed to build an all-news station in South Jersey because it will end up failing.