I know I've mentioned this before on the Memphis board but it bares repeating again: CC will put N/T on FM even when their AM has a great signal. They did it in Birmingham where their WERC (AM) has one of the more robust metro signals. In fact the FM they chose actually covers less of the metro than the AM did during daytime hours.
IIRC they're also putting WFLA in Tampa on translators despite the AM having a massive punch. I'm sure there are other markets where they're doing this. If they think they can outbill the current format with the growth in listenership to WREC, they may very well do it.
Regardless, the trend is definitely to put AM N/T on FM because AM is dying. Outside the realm of Clear Channel, it's happening at a rapid pace. WSB is on FM now, WBBM is on FM now, KCBS in on FM now… it goes on and on. The trend in almost every case is the same: The AM listeners quickly migrate to the FM signal unless they have no other choice, and they usually gain a share or six in the process.
Now to the voodoo: how about they put Radio Now on 102.7 and move WREC to 101.9? Drop the stereo carrier and suddenly the move in from Jonesboro becomes a pretty reliable signal where the money is. WREC gets on FM with a stick looking right at downtown and Now gets 100,000 watts and HD.
What say ye?