Pretty huge ruling, if upheld by the Supreme Court:

In a major victory for TV networks, a U.S. appeals court on Monday overruled federal regulators who decided that expletives uttered on broadcast television violated decency standards.

The U.S. Court of Appeals for the Second Circuit in New York, in a divided decision, said that the U.S. Federal Communications Commission was ‘arbitrary and capricious’ in setting a new standard for defining indecency.

Seems to challenge the precedent regarding the seven dirty words set by FCC v. Pacifica.