AMP has been having a great run in LA for a while now. Still a step child to KISS FM (Seacrest) in LA, but doing better than they were in the LIVE format with Carolla.
A station that is top 5 18-49 and third or fourth in 18-34 in the world's highest billing radio market is not a "stepchild" to any other station. There are nearly 90 stations licensed to the LA metro, and they beat about 85 of them.
Call me crazy, but these are tremor after shocks (6 years later) of Howard Stern leaving the market. If Howard was still on terrestrial, KLSX would still be free/LIVE as would 105.3.
Some of us who have looked at the impact of PPM on spoken word shows believe that Stern would not be doing at all well on terrestrial radio in markets measured with the meter.
Stern was not the cume leader in NY or LA. He was, in fact, closer to 10th in cume, but did very well based on long diary-based time spent listening. In the PPM, he would have lost much of the TSL just as other talk based FM morning shows did... and likely end up closer to 10th in share and perhaps 15th in cume.
All of which means that the effort to create an under-40 talk format would have failed even more dramatically, with or without Stern.