I actually saw that last weekend (haven't been caught up on the Times in a while though). I have no idea whether it is happening or not, which sort of sucks. From what has happened, it seems an awful lot like what happened with the UND "Grad Student Association," where people showed up, got elected, took those positions to their resumes and never did anything. I could be wrong though.
I still think any sort of college radio is a good thing. I would have listened to it, especially if it was online first. You can have so much more different types of content than even for a student newspaper, and with less editorial control (= more realistic picture of the student body). I think the author of that article is spot on.