Llew:
This depends on which of the two Los Angeles stations Entercom spins---KSWD or KCBS-FM. If it's KSWD, that's one thing. But the deal to keep CBS-related call letters is between CBS and Entercom, and probably isn't transferable. So, if...big if...Entercom decides to keep KSWD and spin KCBS-FM off to someone else, KCBS-FM would need new call letters and those calls would be free for Entercom to use on another station.
That's significant because Entercom is a big believer in parking calls that they think they might have a use for. KIFM and KUDL have both made their way to Sacramento stations when Entercom decided to make a change in San Diego and Kansas City, respectively. So it's not unreasonable to think they might put KCBS-FM on another signal, in Los Angeles (where KCBS-TV is---but in which Entercom has no interest), in San Francisco (where Entercom presumably will keep KCBS-AM) or in some other market.
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I think I said that (possibly moving the calls to another LA station)...or that's what I meant, in any case. I don't see how simplifying the SF top-of-the-hour ID by saying "KCBS-AM and FM, San Francisco..." brings them any advantage. By the way - 97.3 (Now "Alice at 97.3") was KRQR before that, and KCBS-FM before that.
And I agree with you that the KFRC calls would have no importance to another broadcaster...with the exception of I-Heart's KOSF. But I think they're probably happy with their current branding - "I Heart 80s @ 103.7", and wouldn't find any advantage by saying "KFRC, San Francisco" once per hour. It might even confuse some people, since that station has gone through so many branding changes in the past few years (Oldies 103.7, The New 103.7, The Bay's 103.7, etc.)