I'm glad to see some discussion on this topic. I realize that Bonneville very badly wants the flagship news-talker in the region, but the Reds also want it. Add in the fact that Clear Channel took a huge bite in their deal with the Reds this year, and that some of Clear Channel's senior sales staff now work for the Reds. Capital would not be an issue for Castellini and Co.
With a powerful AM and an FM for listeners who don't go to the other side of the dial, the Reds would have a tidy little package to take care of their radio needs. Sponsors would get sweetheart deals and the front office would no longer have to haggle about rates and contracts to get games covered. It could create demand for the backing of the Reds to positive effect. The possibilities are actually many and varied if you think about it.
That said, I think the Church will probably go to great lengths to secure WLW.