The proposed tower move by Entercom is smart! Signal within the Burroughs of NYC would be considerably improved. Ditto Westchester County, SW Connecticut and Long Island. Coverage loss in New Jersey would mainly be across outlying areas that mean little to nothing with regard to ratings & revenue.
Unless they can co-engineer the Long Island next adjacent, there is still the issue of the "Wall of Buildings" that makes Manhattan, the boroughs and the near areas of LI full of multipath, attenuated signals and the like.