"In a decision that clears CBS of any wrongdoing for airing the 2004 Super Bowl halftime show that featured Janet Jackson’s infamous “wardrobe malfunction,” a federal appeals court overturned the $550,000 fine that the Federal Communications Commission levied against the station, calling the fine arbitrary and capricious.
[...] "...the judges said that CBS could not be held responsible for the exposure, and went on to question the extent of genuine public outrage over it, saying that “the record is unclear on the actual number of complaints received from unorganized, individual viewers” as opposed to advocacy groups."
"The 2004 incident prompted the commission to step up its enforcement of indecency rules. In the years that followed, the agency has levied larger fines on broadcasters than before, and in 2006 Congress agreed to increase the maximum fine for a single violation tenfold, to $325,000."
I am guessing this may hasten the flight of viewers from TV onto the Internet, where censorship is much harder to impose.