Odd that EMF's Air1 format isn't in the market yet, although I can pick up the KZAR 97.7 signal when I'm in the Austin area. Perhaps EMF is satisfied with its coverage for now.
I thought the same thing. However, it made a bit more sense when I looked at the coverage areas of the 4 K-Love stations and found that, even together, they don't a city grade all of Austin. So, I can kind of see what they're doing.
The deal for EMF to acquire 92.5 includes a balloon payment if they can successfully move to the main tower farm like they were trying to do a year or two ago. I suspect Air-1 will find itself on the other frequencies doing K-Love if 92.5 can upgrade. I remember they were trying to move it to 92.7 and change the COL. I don't see that CP pending, but I'd guess it's still a goal.