Before the 92.3 frequency was acquired by Cumulus Media from Connoisseur Media in 2000, the station was country music-formatted KOEL-FM "92.3 The Hog." This format flip also happened to other stations Cumulus acquired from Connoisseur, like KBEA (Muscatine-Quad Cities, IA), which had been a leading country station as well as KBOB "BOB Country." The country format and KOEL-FM call sign still live on in Waterloo/Cedar Falls on 98.5 MHz, branded as "K98.5".
Before the flip to CHR, the only other stations in the Waterloo/Cedar Falls Area that carried the format were distant and somewhat weak signals. You either had to choose from KZIA Z102.9 from Cedar Rapids, or KWAY-FM "Y99.3" from Waverly (which is now a Hot AC station). Although Waverly is considered part of the Waterloo/Cedar Falls DMA, KWAY's signal was not the strongest. At only 4,600 watts, it is considered just another small-town radio station. And while KZIA used a full 100,000 watts, the tower was at least 40–50 miles away, which made it hard to receive over the closer stations.
On August 30, 2013, a deal was announced in which Townsquare Media would acquire 53 Cumulus stations, including KKHQ-FM, for $238 million. The deal is part of Cumulus' acquisition of Dial Global; Townsquare and Dial Global are both controlled by Oaktree Capital Management. The sale to Townsquare was completed on November 14, 2013; KKHQ-FM is one of three stations (along with KCRR and KOEL-FM) that have been placed in a divestiture trust for eventual resale within two years.