There's absolutely no way I would buy a radio station that does anything besides sports and talk. Unless a station has a serious following with a serious niche, Pandora, Spotify, and iTunes have doomed them.
As far as the station is concerned, you need money. You have to keep the thing operating until you get sufficient advertising revenue. That means keeping the physical plant running. Plus you have the weirdness involved in acquiring the FCC license. You need to tie in with advertisers, audience, and music festivals.
HOWEVER, an alternative model would be to create an online radio station, one that has a serious niche. One in my market, Red Mountain Radio, was strictly online for years with an eclectic playlist, built up a following, and then became a real radio station after several years. The programming is top notch.
Birmingham Mountain Radio