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Jazz. Real jazz...not the smooth jazz stuff.
Or bluegrass/classic country.
If money was not an issue maybe an underground rock format like they put on AM in Philly for a year or two recently.
Considering most AM stations in the market are already established, it's hard to develop a new listenership with AM and an AM's options are very limited, I would go all brokered radio.
I would put up billboards, buy newspaper ads, etc. informing the general population that we offer opportunites for everyone to have their own radio program. We would charge personalities on average $100 per hour and gross about 400 k per year.
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