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Howard should be free to say and do as he pleases. At the same time, the people in charge of the medium carrying his show should have the right to say that he can't say that kind of stuff on their airwaves. Howard isn't being shut up. So far as I know, he still has the right to broadcast over the internet, put out a CD of what he wants to say, write a book, and so on.
It's like if I build a theater to show movies, and then decide not to show your movie because I think it's garbage, and then you tell me that I have to or else it's censorship. I don't have to do anything, because it's my theater, I paid for it, I'm the person who runs it, I just let you make use of it.
This isn't some small company, though, shidoshi. This is the government and these two giants - Infinity Broadcasting and ClearChannel - who own EVERYTHING. If the FCC really was dedicated to what they said, they would never have helped those two companies take over almost every radio station in existence. If stations were all owned by smaller corps then those smaller corps could get the complaints and react accordingly.