Marketers distinguish between three types of media: paid (e.g., advertising), owned (e.g., company website), and earned …

strategically set termination fees to induce fragmentation. This takes place when advertising revenues are potentially large but … identify an important link between termination fees, the online advertising market and Internet fragmentation. We extend the … model to account for multi-homing consumers, vertically integrated ISPs, third-party advertising platforms and heterogeneous …