A lot more detail.... (probably more than you want to know)...
Miami's WMYQ began life as WGBS-FM, a beautiful music station.
In early 1972 Bartell purchased the station and flipped the calls to WMYQ. The frequency was 96.3.
Y-100 (WHYI Ft Lauderdale) came to the air a month or so later.
WMYQ fought it out with Y100 for many years, and both had their successes. I stated earlier that I always thought WMYQ was the better of the two.
The FCC troubles began in 1973 as a result of a contest in which WMYQ was giving away a bunch of stock in a corporation with assets.
It turned out the corporation was a shell corp. with little or no assets. The FCC admonished WMYQ and warned them of future fraudulent contesting. Some time latter they gave away (as a part of "The Last Contest", I believe), a "Warehouse Full of 10 Speed Bikes". This would come back to haunt them because they didn't have a "warehouse" full of 10 speed bikes, they had a dozen bikes in a garage.
Then, in 1975 they reported on the air and in their newscasts that WMYQ Jock Greg Austin was missing, presumed lost at sea in the Bermuda Triangle. Miami Police, The US Coast Guard and hundreds of citizens searched for Austin, who was actually 2 blocks away from the WMYQ studios, sitting in a restaurant. After a long search WMYQ finally 'fessed up that it was a promotion/contest called "Find Greg Austin". Local officials and the Coast Guard were incensed and many others filed complaints with the FCC.
It would take several years for the hearings and ruling, meanwhile Bartell sold WMYQ and the new owner (fully aware of the impending/potential outcome) inherited the station's legal difficulties. Ultimately, the FCC ruled against WMYQ/WMJX (the current calls), yanking their ticket. On Feb. 15, 1981, DJ Stuart Elliott played "The Long and Winding Road", then said "96X is WMJX, Miami" and they cut the carrier. The end of an era.
There were several applicants for the frequency (similar to the WIFE-FM process in Indy), but Woodlinger Broadcasting eventually got the license and on June 15th 1985, with call letters WJCX (still calling themselves 96X and still on the 96.3 frequency) they returned to the air as a straight CHR. A year later Woodlanger sold the station to Beasley Broadcasting, who still owns it as of mid 2008. Later in 1986, FCC Docket 80/90 moved WJCX from 96.3 to 96.5 to allow a new drop-in on 95.7 in nearby Homestead.
These days the station is known as Power 96 (WPOW) and are strictly Rhythmic. They still do well in the ratings, and a notches below them on the 12+ ARBS, you'll find Y100 (a shell of it's former self) still playing mainstream Top 40.
My question: If this happened today, only the offending station had shelled out 20 million dollars in the FCC auction for the licensee, would they get their money back or get the keep the proceeds of a new auction? Or do they allow licensee's to sell the station and drop the complains from the FCC (didn't that happen in Terre Haute)?
Sorry for the lengthy, somewhat off-topic post.