These are the latest radio ratings for the Calgary market:
https://www.bbm.ca/_documents/decemb...plineRadio.pdf
Sportsnet 960 (CFAC) is the third least listened to station in the market. The only two lower are CBC-FM and CKMX, which changed from Classic Country to Comedy during the ratings period. I think both of those stations are relatively cheap to operate.
Sportsnet, on the other hand, has to pay for Flames rights and produce all of the game broadcasts. I'm sure they make decent money from advertising during the Flames broadcasts, but it probably barely cover costs.
Not surprising to see cutbacks taking place.