Good. I hope the business keep their support, because as has been said many times, that's the only way these formats will survive at all. Being in a small (and presumably unrated) market helps a lot too.
Well, if he has the bucks to keep it running regardless of revenue, then he certainly can. It's his license.
Here in Los Angeles, we had a commercial Classical station on FM until February, 2007 ... long after the format had disappeared in many markets other than non-commercial public stations. The reason is that when KFAC/92.3 (now KRRL) was sold and dropped the format in 1989, the owner of KKGO/105.1 flipped from Jazz the following January.* He could afford to do it because he owns the station personally (in fact, he put it on the air originally in 1959 as KBCA and has resisted every offer to sell in the 55 years since) and has no debt to service. Perhaps a similar situation exists for the owner you reference above.
* - He changed the call letters to KMZT ("K-Mozart") ten years later, and when he flipped to Country in 2007 moved the call letters and Classical format to his co-owned AM on 1260 (with a simulcast on KKGO-HD2), where it has remained for the past eight years. I know the owner myself -- his name is Saul Levine -- and he has no intention of ever dropping the format, especially after investing in some equipment upgrades which make KKGO/1260 the cleanest-sounding AM I've heard in years. His adult children are active in the stations' operation and will take over ownership whenever he either retires or passes away. Not that I expect either to happen anytime soon, mind you.