Another possibility would be ARN acquiring both Hit & Triple M in Mildura and selling the AM station (River 1467) to someone like SEN. This would allow River to move to the FM band, which is pretty much an identical situation to what happened when 3MA moved from 1467 to 97.9 back in late 1999, in which the AM licence then became a Sport 927 (now RSN) relay before switching to the Easy Mix a few years later.
As for the other markets, I reckon either ARN or the Super Radio Network could be contenders for the soon-to-be-divested SCA radio licences.