Various factors including listeners, sponsors, and the FCC.
Dear WRKO: We are pulling ads from your station because
we are offended by your midmorning talk host. People are
coming into our stores and complaining about it.
--Sincerely, Drunken Donuts
...so we do have freedom of speech but various factors in a commercial radio station may lead them to certain decisions.
Like the country stations who pulled Dixie Chicks music
after that furor, remember? :)
You think that offended the average WRKO listener? I think for every 1 offended they have 100,000 who chuckled.
This all comes down to the gay agenda. "fag" gets you suspended. "Fat Lezy" gets you fired. "Corrupt Midget" and "Fatboy" gets you a big contract.
Stern may have gotten them fined by the stuck by him because he was a golden goose who laid 24k eggs.