7.3. A Simple Model of the Television Market 292
7.4. Extensions to the Simple Model: “The Four Bs” 302
7.5. Open Policy Issues in Television Markets 321
7.6. Online Video Markets 327
7.7. Conclusions 333
Acknowledgments 334
References 334
8. Radio 341
Andrew Sweeting
8.1. Introduction 342
8.2. A Brief History of the Radio Industry in the United States 345
8.3. Data 352
8.4. The Effects of Industry Consolidation on Market Outcomes: Theoretical Considerations 356
8.5. Empirical Evidence on the Effects of Ownership Consolidation in Radio 359
8.6. Excess Entry 375
8.7. Strategies for Retaining Listeners 376
8.8. Non-commercial Radio and the Effects of Competition Between
Non-commercial and Commercial Broadcasters 381
8.9. Effects of Radio on the Music Industry, and Cultural and Political Outcomes 384
8.10. Conclusions 391
Acknowledgments 392
References 392
9. Newspapers and Magazines 397
Ambarish Chandra, Ulrich Kaiser
9.1. Introduction 398
9.2. An Overview of the Print Media Industry 401
9.3. Market Structure in Newspapers and Magazines 409
9.4. Newspapers and Magazines as Two-Sided Markets 416
9.5. Advertising in Newspapers and Magazines 422
9.6. Antitrust Issues in Newspapers and Magazines 427
9.7. Print Media and the Internet 433
9.8. Thoughts for Future Research and Conclusions 437
Acknowledgments 440
References 440
10. The Econo mics of Internet Media 445
Martin Peitz, Markus Reisinger
10.1. Introduction 446
10.2. Media and Advertising on the Internet: Some Facts 450
10.3. Providing Media Content 459
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Contents