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Fusionen auf dem Printmedienmarkt aus wirtschaftspolitischer Sicht

  • Ralf Dewenter
  • Ulrich Kaiser

Media markets in general and print media markets in particular are characterized by a number of properties that distinguish them from ordinary product markets. The two most distinguishing properties are (i) the interrelatedness of the demand for advertising space and circulation and (ii) the existence of considerable fixed cost. This paper uses economic theory to show that the two-sidedness of the reader and advertising market as well as fixed costs lead to a reduction in the incentives to increase copy prices after print a media merger. The paper also argues that the existence of economically sizeable fixed costs may lead to efficiency gains from a print media merger. Printmedienmärkte weisen eine Reihe besonderer Eigenschaften auf, die sie von gewöhnlichen Produktmärkten unterscheiden. Die beiden wichtigsten dieser abgrenzenden Charakteristika sind (i) die direkte Abhängigkeit von Printmedienreichweite und Nachfrage nach Anzeigenseiten und (ii) die starke Fixkostendegression. Diese Arbeit zeigt aus wirtschaftstheoretischer Sicht, dass die Verbundenheit von Anzeigen- und Lesermarkt zu einer Reduktion der Anreize von Printmedienpreiserhöhungen im Fusionsfalle führt. Sie macht ebenso deutlich, dass die Fixkostendegression zu Effizienzgewinnen im Fusionsfall führen kann.

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File URL: http://ejournals.duncker-humblot.de/doi/pdf/10.3790/vjh.74.3.51
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Article provided by DIW Berlin, German Institute for Economic Research in its journal Vierteljahrshefte zur Wirtschaftsforschung.

Volume (Year): 74 (2005)
Issue (Month): 3 ()
Pages: 51-63

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Handle: RePEc:diw:diwvjh:74-3-7
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  1. Mitchel Y. Abolafia (ed.), 2005. "Markets," Books, Edward Elgar, number 2788, July.
  2. Gabszewicz, Jean J. & Laussel, Dider & Sonnac, Nathalie, 2001. "Press advertising and the ascent of the 'Pensee Unique'," European Economic Review, Elsevier, vol. 45(4-6), pages 641-651, May.
  3. Gabszewicz, Jean J & Laussel, Didier & Sonnac, Nathalie, 2002. " Press Advertising and the Political Differentiation of Newspapers," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 4(3), pages 317-34.
  4. Anthony J. Dukes, 2005. "Economic Perspectives on Media Mergers and Consolidation," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 74(3), pages 38-48.
  5. Ulrich Kaiser, 2002. "The Effects of Website Provision on the Demand for German Women's Magazines," NBER Working Papers 8806, National Bureau of Economic Research, Inc.
  6. George, Lisa, 2007. "What's fit to print: The effect of ownership concentration on product variety in daily newspaper markets," Information Economics and Policy, Elsevier, vol. 19(3-4), pages 285-303, October.
  7. Chaudhri, Vivek, 1998. "Pricing and efficiency of a circulation industry: The case of newspapers," Information Economics and Policy, Elsevier, vol. 10(1), pages 59-76, March.
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