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Okay, so what about AAA?

I too would LOVE it if say, iHeart put their "Smells Like the 90s" channel or "Alternative Rewind" channel on WRFF-HD3 to compliment Radio 104.5. Hell, even just automate a locally produced Classic Alt and like you said, tap into the old Y100/WDRE... even Max 95.7 playlists to get a local flavor. And yes... this is purely fantasy... I know it won't happen :)
Are there any "Classic Alt" format stations in a major market? And if so how do they do? I find this kind of interesting aside from 1045 anyway. I have wondered the past few years if this format would pop up similar to Classic Rock where it seems the playlists dont change all that much, I mean normally a playlist will slide to accommodate age of the demo but WMGK seems to have stuck with the same playlist forever, aside from adding a few "newer" artists over the years (U2, R E.M. Guns N Rose's, ect) they still play the same core playlist (Zeppelin, Floyd, Doors, Petty, Springsteen, Seger, Mellencamp, Journey, Skynyrd, Aerosmith)
 
XPN did the Y-Rock alt thing and then their own Alt format on their HD2 for a number of years. Didn't improve their fundraising enough to be worth it. Now they just run 6-hour loops of their noncomm syndicated Xponential Radio AAA format which features some new stuff and a fair amount of recurrents and some classic rock tracks. It's good enough to listen to during Kid's Corner.

As for Classic Alt - so classic it was still called 'Modern Rock' when new - KSQN features an 80s New Wave format in the Salt Lake City market. They pull around a 1-share so I can't imagine billing is anything much. Eminently listenable if you're into that era though.
 
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