Opinion for the Court filed by Circuit Judge BORK.
BORK, Circuit Judge:
The Communications Act of 1934, 47 U.S.C. § 317 (1976 & Supp. V 1981), and the regulations of the Federal Communications Commission, 47 C.F.R. § 73.1212 (1981), require licensed broadcast stations to identify the sponsors of paid political advertisements at the time those advertisements are broadcast. The licensee is under a duty, moreover, to make a reasonably diligent inquiry...
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