L.A. has supported two classic or heritage rock stations simultaneously for the better part of the last 30 years. KLOS is almost perfectly positioned music wise given the current dynamics of the market. KROQ's deflation and pivot away from guitar-based alt rock has definitely helped KLOS. The decision to play a current or recurrent every 90 minutes or so and to devote, say, 20 percent of spins to songs from the 90's has helped KLOS's cause, in my opinion. Their playlist is shuffled well enough to give the station a somewhat unpredictable feel, too.
The KROQ change has helped KYSR a bit, but it's not noticeable with KLOS. KLOS got a kiss when its direct competitor went to K-Love (the religious one), dumping most of its listening on the survivor. We never saw much sharing between KLOS and KROQ... they are very different subsets of rock.
97.1's roots are as a male-oriented station, first as a classic rocker and then as an FM hot talker.
Nobody remembers what was on a particular frequency two decades or so ago.
A replacement format doesn't necessarily have to be rock. FM sports may be worth of a look if decent play-by-play rights can be grabbed.
The significant rights holders in LA are the teams themselves. They either buy the time or they associate with a station, like the shared ownership of KLAC. It's really unlikely that any station could put together a football-basketball-baseball trifecta in LA.
Given the demographics of the region, a format geared to a Spanish-speaking audience is worthy of serious consideration, too.
That option is already saturated. Remember that about 50% of LA Hispanics are English dominant, and so even in 18-49, there are only about 25 to 28 shares available. There is no format hole, and some formats are duplicated: Regional Mexican, including an OC station, has 4 FM services, reggaetón / CHR has two, and there are adult hits, pop oldies, regional oldies, sports and talk outlets, too.
Part of me also wonders if KNX 1070 should be simulcast on FM, but I think the above proposals are better ones than that idea.
All news, even on FM, in the sunbelt, is a tough format. Look at the FM fails in Atlanta and Houston. And it is ancient demographically.
I am inclined to believe multiple options would be an improvement over the ratings disaster currently found at 97.1.
The issue is whether they are going to spend on a format switch in the middle of the pandemic.