Cox is actually waiting on two Applications. Read here:
http://fjallfoss.fcc.gov/prod/cdbs/forms/prod/getattachment_exh.cgi?exhibit_id=465301
The other, for those that don't click the link, is to move WZLR's tower from south of Xenia to near Beavercreek. That will give them a much better signal over Dayton and Montgomery County without losing primary coverage in Xenia. The WZLR move can't happen without the WHIO move to Sharonville, because they're at 95.3 and 95.7 respectively. I'm not sure they should do any of this now, with WHIO-AM/FM taking a pretty sizable 12+ share of the market now that they're simulcasting. Unless they plan to move the FM simulcast to 95.3, and they can educate the listeners about it effectively, I would leave well enough alone for now.
As for the format, Smooth Jazz is not an option. I know you jazz lovers are going to tear me down, but the format is NOT popular among advertisers at all. Think about it. If New York City, Minneapolis, Louisville, Pittsburgh, St. Louis, etc... can't support a Smooth Jazz station, do you really think Cincinnati can? I don't mean in terms of listeners. The WAVE got great numbers, but advertisers said "no" or got a "dollar a holler." Just not economically feasible for an owner.
Cox will probably swap WZLR's format to 95.7 in the meantime. First is doing the engineering for Cox. They don't plan to buy it.