I'm neither smart enough or well-connected enough to even hazard a guess but I wonder if there's an opportunity to acquire the older radio broadcasting assets and make them useful?
That's essentially what's going on with high TV channels right now. They're getting repacked into lower frequency bands so the high frequency channels can be used for cell phone service. You may have seen your local channel telling you to recant, that's why.
The FM/AM radio spectrum is too low frequency to be practical for cell phone use. The antennas would be outrageous.