competition "either or both." A central result is that platform ownership does not affect advertising levels, despite nontrivial … viewer fees. We show that the equilibrium advertising level is inefficiently high. We also demonstrate that entry of a … platform leads to an increase in the advertising level if viewers' preferences for the platforms are negatively correlated …

This paper investigates whether newspapers report more favorably about advertising corporate clients than about other … firms. Our identification strategy based on high-dimensional fixed effects and high frequency advertising data shows that … advertising leads to more positive press coverage. This advertising bias in reporting is found among local and national newspapers …