Sorry, I was inaccurate in my statements when I left out the appeal
process.. As you said, when his renewal application is decided and
Baxter appeals (which he will), and IF the appeal does not reverse the
decision (which seems likely) THEN he will loose his authority to
operate.

So, if my understanding of the process here is correct, the events go
as follows:

1. Renewal Application is timely filed (Already done)
2. Application is set-aside for review (Already done)
3. The Review determines that the application will be denied (Pending
now)
4. The decision to deny is appealed (Not done yet, must be done
after denial)
5. The Appeal causes a hearing where the decision to deny is argued
6. The appeal hearing is decided

So, if you assume that the FCC will deny the application and Baxter
will appeal the decision, then he will retain his authority to operate
until the outcome of the hearing.

Am I correct?