Ownership Consolidation and Product Characteristics: A Study of the US Daily Newspaper Market

Ying Fan

384 citations0/0 files storedAmerican Economic Review

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Merger and Competition Analysis Journalism and Media Studies Media Influence and Politics

Abstract

This paper develops a structural model of newspaper markets to analyze the effects of ownership consolidation, taking into account not only firms' price adjustments but also the adjustments in newspaper characteristics. A new dataset on newspaper prices and characteristics is used to estimate the model. The paper then simulates the effect of a merger in the Minneapolis newspaper market and studies how welfare effects of mergers vary with market characteristics. It finds that ignoring adjustments of product characteristics causes substantial differences in estimated effects of mergers. (JEL G32, L13, L82, M37)

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2019American Economic Review 1995Automobile Prices in Market Equilibrium 2010What Drives Media Slant? Evidence From U.S. Daily Newspapers 1981Applied Welfare Economics with Discrete Choice Models 2000Mergers with Differentiated Products: The Case of the Ready-to-Eat Cereal Industry 2010A Price Theory of Multi-Sided Platforms 2006An empirical model of firm entry with endogenous product-type choices 2002Product Choice and Oligopoly Market Structure

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