Steve Gilliard says that if the FCC keeps it up, broadcast radio may be doomed within 5 years. I'm not sure I'd make such a prediction, but it definitely could be the tipping point for satellite radio.
Fox News reports that Stern paid a visit to the Sirius offices last week. On Sirius, Stern could say whatever the fuck he wanted to and Mikey Powell wouldn't be able to do anything about it.
I doubt normal radio will die anytime soon, but it could see its share dwindling.
On a related note, the Chicago Sun Times is reporting that FCC has been pressuring the networks to sanitize their programming, of course with success. Great - we can look forward to a return to that golden decade of television, the 1980s. But, of course, competition from cable and DVDs will just continue to erode their market share, too.
Also, Jack Balkin warns the FCC that they're heading down a slippery slope that they're going to come to regret rather quickly.