Hubbard can buy the station outright if K-Love isn't a fit. But K-Love will stay there regardless.
I'm sure K-Love isn't going to go anywhere, but it has happened before. In my home market (Mobile, Alabama) K-Love was part of a switch-a-roo with the market's heritage Top 40 station, 97.5 WABB.
The way it was told to me, the estate of the legendary Bernie Dittman was selling the station to anyone EXCEPT Cumulus, who they knew would ruin it. (Whether that's actually true or not, I have no idea, but it wouldn't surprise me.) So along comes K-Love to buy the 100 kW stick for a big chunk of change. They changed the calls to WLVM.
They let the station personnel have their goodbyes and all that, then the K-Love satellite feed was potted up and that was the end of an era.
Meanwhile, Cumulus flipped one of their big market FMs to CHR as "WAB
D" with virtually the same logo and marketing fluff.
Fast-foward a few days, and it comes out that EMF was selling the 97.5 stick to Cumulus for cash and acquisition of a smaller Mobile-centric signal on 98.3. WLVM moved to 98.3 and Cumulus got their hands on 97.5 (which became WADB) after all.
I don't see this kind of silliness happening in Chicago, but it's an interesting insight into the willingness of EMF to make deals.
I can't wait for this...I will be listening. K-Love is going to be a train wreck. We must see what happens.
Have you heard K-Love before? It's exceptionally professional. Good sound, and I don't even like CCM. If you're not listening to the words, it could be any other slick contemporary station in America.