Professor Banzhaf said, "In each case the underlying legal theory would be based upon what happened with the challenge I helped put together in the early 1970s to the license renewal of a major DC TV station."
What he doesn't say is that in no case did the FCC deny any licenses based on his group's actions. In fact, there were no ACTUAL threats to licenses. There was just a perception of license denial, which, at the time, was enough for licensee to make changes.
One of his proposals is: "Petition the FCC to Issue a Policy Statement [similar to its earlier drug policy statement (Public Notice 71-205)] about Hateful Racist Words in General, and/or 'Redskins' Specifically."
Notice that the drug policy statement was made over 40 years ago. It was a statement, not a rule. Two very different things. The FCC isn't going to deny a license for not following a statement.
Another proposal is: "Petition the FCC [file a Petition for Rulemaking] for a New Rule Restricting the On-Air Use of Words Which Are Highly Derogatory, Racist, and Hateful to Ethnic and Other Groups.
He has no example or precedent for this new rule. In fact we can all think of words that might qualify, but none have been officially banned by any rule that I'm aware of. In the meantime, the courts have thrown out the FCC's obscenity rules, calling them "capricious" and without consistency.
There's no doubt the Professor and his students can create annoying and time consuming threats to stations, as they have in the past. But history has demonstrated that they are idle threats, without any real merit, and a smart lawyer could end up reversing the suits in a way that could cost Banzhaf, his class, and the University a lot of money. So in answer to the topic of this threat, the quick and easy answer is NO. There is a long, long way to go before a license denial could take place. And the biggest impediment to Banzhaf's challenge would be the First Amendment.