This paper shows how rules restricting common ownership of multiple media outlets affect both the magnitude and diversity of the ideological content of programming. While in most industries the assumption that firms maximize profits is quite reasonable, we assume that media owners derive utility...

Media outlet owners can modify their outlet's content so as to persuade audiences to adopt positions consistent with their preferred ideologies. In this paper, we assume that outlet owners value such persuasion, and therefore will engage in it at the cost of some reduction in profits. We compare...