Locally, here in Edmonton, it is considered "Common Knowledge" that W-14-40 (CKJR-1440 Wetaskiwin) gets the Lion's Share of its revenue from the block of South Asian programming that begins at 6:00 p.m. weekday evenings, plus some additional programming on weekends, all paid by the owners of the new CHBA-580 in Edmonton. The CRTC decision made this morning to award the new multilingual station license to CHBA is based, in large part, on the programming moving from CKJR to CHBA.
Given recent Newcap cutbacks, I could certainly see them abandoning CKJR, most likely surrendering the license to the CRTC, though I will admit someone like the owner of Wetaskiwin's CIHS-FM might be interested in buying CKJR. Though the CRTC may not grant the transfer given that the same owner lost his FM license on Saltspring Island.
Unlike other Newcap small market stations in Alberta, CKJR cannot be switched to FM because Newcap already owns nearby CFCW-FM (CAM-FM). With CFCW AM and FM both doing a good job of serving Westaskiwin, there just is not enough ad revenue left over to support CKJR. Especially in the current Oil-based economy.
A radio station on 1440 would also be a nice fit for the large merged Native reserve near Wetaskiwin, but it might just be more trouble than it is worth given how long they have run their own FM station without CRTC or Industry Canada approval or paperwork.
The only remaining question is whether one of today's "Losers" -- other applicants for a Multilingual Edmonton Station -- come to CKJR's rescue and buy large blocks of time. It seems more likely that they would buy time on the new CHBA-580.