To test whether the revocation of the Federal Communications Commission's "Anti-Trafficking" rule (requiring television station owners to keep a station for three years before transferring its license to another party) impacted station owner behavior, a study compared the behavior of television station "traffickers" (owners seeking quick turnovers of their stations) with those who held onto their stations for longer periods. Specifically, the study examined the results of trafficking behavior on station prices. The study analyzed 26 cases where stations were traded at least twice (involving periods of ownership of three years of less) during the period of 1973-1986, and for which full information on the original purchase price and the later sale price was available. Other measures considered the influence of various factors, including network affiliation, and whether the current owner or purchaser owned other media properties at the time of sale. The influence of competing stations and cable penetration were measured by the change in number of competing stations and the change in cable penetration levels from the time the station was originally purchased to the time at which it was sold. Results indicated that no statistically significant difference existed in the station price growth rates of "traffickers" and other owners. In fact, controlling for the influence of other factors, "traffickers" appeared to achieve marginally lower growth rates than other owners. (Two tables of data are included.) (MM)