If I'm Cox, and I don't necessarily want to be in radio, especially in markets where I don't have another property, wouldn't it make sense for me to swap those markets to gain stations in markets where I already have a presence? They can do this tax free and it would instantly strengthen their portfolio because of (say it together boys and girls) SYNERGIES.
If I'm already paying for facilities, personnel, etc. in Seattle at KIRO TV, and I can pick up some radio stations in Seattle in exchange for my standalone radio properties in Tampa, doesn't that make sense? Paying for one building instead of two, utilizing TV personalities for traffic/weather/news on my new radio stations, cross-promoting sister properties, leveraging existing sales people and their relationships, etc.
The chances of Cox getting Seattle radio stations is about the same as the Sonics coming back to Seattle: It COULD happen, but don't bet on it. Good arguments, however.