Opinion for the court filed by Circuit Judge BUCKLEY.
BUCKLEY, Circuit Judge:
In 1982, the Federal Communications Commission amended its rules to eliminate its twenty-year-old "anti-trafficking" policy, under which the purchase and resale of broadcast licenses within three years was presumed to be contrary to the public interest. Little more than a year after the Commission had denied reconsideration of the amendment, petitioners applied for a new rulemaking...
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