Looks to me like they are targeting local sales for smaller businesses which don't have a big budget as a way to get them on the radio and have a local reach. Nine-FM has already invested in the technology that lets them do 'local' spots that can only run on one of the 3 stations. So if they get (I'm just making this up) $50 for a spot on one of the stations, they could sell that same 30 or 60 seconds on all 3 stations to different "local" sponsors. The sponsor gets a local radio spot for that cost, but Nine-FM takes in $150 (again, made up - I don't know) for a spot, which is more than their lack of ratings would generate for one station.
This is the radio equivalent to the local newspaper. Nowhere near the circulation of the large dailies, but cost effective for the local advertisers seeking to reach their neighborhood and not beyond.
As a north side and north suburban resident for most of my life, I know that 92.7 has been through several call letters and formats over the years, and has had little success no matter what. Energy, WSEX, etc., going all the way back to being the area's first FM "top 40" station in the late 60's as WEXI "Stereo exitement from Arlington Heights" including automation playing the hits of the day.
At least by combining with the other frequencies, they have this chance to increase their income by sharing programming costs.
