A method and apparatus for isolating transmit and receive signals in a communication system utilizing a common channel for both incoming and outgoing signals. In one embodiment a tuned hybrid or isolation circuit is provided with a high-frequency pre-emphasis response. The tuned hybrid rejects the transmit signal from the receive port and is capable of isolating the low power receive signal. One or more filters within the hybrid provide the desired levels of attenuation and frequency specific processing. Outgoing transmit signals encounter minimal attenuation thereby reducing overall transmit power requirements while receive signals are isolated. The tuned hybrid may be configured with an all-pass network consisting of an attenuator and a delay element. Both of these devices or elements maybe tuned to tailor the frequency response to the channel.