The authors analyzed the implications of targeted advertising on the equilibrium level of channel profile differentiation (e.g., in terms of political positioning), in free-to-air broadcasting industries. When consumers have no preferences over program content (e.g., entertainment vs. news)...

In media markets, the value of advertisement exposure depends on circulation, and media consumers' valuation is affected by advertising. This article analyzes media market competition in a duopoly framework. There exist symmetric and asymmetric equilibria in terms of firm size, and sometimes a...