Public Interest Journalism, the Internet, and Competition for Advertising

Public Interest Journalism, the Internet, and Competition for Advertising

By Henry Ergas, Jonathan Pincus & Sabine Schnittger –  The advent of the Internet and of new Internet-based platforms and social networks has profoundly changed the competitive landscape for traditional publishers of “public interest journalism” or, more generally, quality journalism. Consumers now have access to virtually unlimited online content, of which quality journalism is one […]

Platform Power and Privacy Protection: A Case for Policy Innovation

Platform Power and Privacy Protection: A Case for Policy Innovation

By Caron Beaton-Wells –  Are the goals of competition and privacy in alignment or in conflict? The antitrust-privacy interface is the subject of much academic and policy debate, particularly in the context of digital platforms. This article maps the contours and underlying values of two models for managing the interface, one of policy consistency (as […]

The Tragedy of the Successful Firm

The Tragedy of the Successful Firm

By Konstantinos Stylianou –  Twenty years after the emergence of platform literature antitrust courts and authorities still face formidable challenges in deciphering platform business models. The latest two Google cases (Google Search, Google Android) highlight the schism between what firms consider an innovative business plan and what the law is ready to accept. Noting the […]

Online Platforms and Antitrust: Evolution or Revolution?

Online Platforms and Antitrust: Evolution or Revolution?

By Renato Nazzini –  This article asks the question as to whether existing antitrust tools are suitable for dealing with perceived antitrust concerns raised by online platforms by focusing on three examples: (1) market definition and market shares; (2) barriers to entry; and (3) the role of innovation as a safe harbor or as a […]

Two-Sided vs. Complementary Products

Two-Sided vs. Complementary Products

By Lapo Filistrucchi –  In his dissenting opinion in Ohio et al. vs American Express, Justice Breyer seems to call for a clarification, from Filistrucchi et al. (2014) on the distinction between products sold by two-sided platforms and complementary products. The question however has been lingering also in economic circles. In fact, it has often […]

Antitrust Chronicle – Rethinking Vertical Mergers

Antitrust Chronicle – Rethinking Vertical Mergers

Dear Readers, The August 2018 CPI Antitrust Chronicle features articles on a topic that has been all over the news recently: vertical mergers. The recent District Court decision in the AT&T/Time Warner merger has opened a Pandora’s Box of antitrust discussions. This seems understandable seeing that the case is the first government action to block […]

Kabuki Dances or Rube Goldberg Machines? Vertical Analyses of Media Mergers

Kabuki Dances or Rube Goldberg Machines? Vertical Analyses of Media Mergers

By Cristina Caffarra, Gregory S. Crawford & Helen Weeds –  In his recent opinion in the AT&T/Time Warner merger, Judge Richard Leon described the bargaining models presented by the government as a “Kabuki Dance” and a “Rube Goldberg Machine.” We summarize key considerations in recent vertical media mergers in the U.S. and EU and show […]

The District Court’s AT&T/Time Warner Decision: Insights into the Law of Vertical Integration

The District Court’s AT&T/Time Warner Decision: Insights into the Law of Vertical Integration

By Christopher S. Yoo –  The U.S. District Court’s opinion unconditionally approving AT&T’s acquisition of Time Warner is often mistakenly regarded as the mere application of settled law to a particular case. A close reading of the decision yields insights in five areas: (1) what constitutes must-have content; (2) the importance of focusing exclusively on […]

Vertical Mergers and the MFN Thicket in Television

Vertical Mergers and the MFN Thicket in Television

By Erik Hovenkamp & Neel U. Sukhatme –  Increasingly, cable and satellite TV services (known as “MVPDs”) seek to acquire upstream programming creators, as illustrated by AT&T’s recent merger with Time-Warner. At the same time, the pay-TV industry is rife with most-favored nation (“MFN”) agreements, which can sharply constrict the competitive process. The most problematic […]

An Algorithm for Analysis of Vertical Concerns

An Algorithm for Analysis of Vertical Concerns

By Malcolm B. Coate –  Vertical analysis may play an important role in antitrust policy for Internet-related markets. As anticompetitive effects are horizontal in nature, this paper proposes a three-step review process, first focusing on the core competitive effect, then the potential for exclusion and finally balancing of efficiencies and anticompetitive effects. Two illustrations are […]