of circulation on advertising demand. Editors choose first the political position, then simultaneously cover prices and … advertising tariffs. We contribute to the literature on two-sided markets by endogenizing the political differentiation of …

prices and advertising tariffs. We build on the work of Gabszewicz, Laussel and Sonnac (2001, 2002), whose model we take as …), cover prices are positive and the minimal differentiation outcome does not depend on the size of the advertising market. We … to cooperate in setting cover prices and advertising tariffs but not the editorial line …