NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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The Welfare Effects of Vertical Integration in Multichannel Television Markets

Gregory S. Crawford, Robin S. Lee, Michael D. Whinston, Ali Yurukoglu

NBER Working Paper No. 21832
Issued in December 2015, Revised in April 2017

---- Acknowledgments ----

We would like to thank the editor, five anonymous referees, and numerous individuals and seminar participants for helpful comments; and ESRC Grant RES-062-23-2586 (Crawford), the NYU Stern Center for Global Economy and Business (Lee), and the Toulouse Network for Information Technology and the NSF (Whinston) for support. All errors are our own. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

---- Disclosure of Financial Relationships for Gregory S. Crawford ----

Gregory Crawford served as a paid consultant to Bloomberg Media and to Langer, Grogan and Diver P.C. in the past three years on matters related to vertical integration and news and sports programming, respectively. Neither Bloomberg nor Langer and Grogan had any say or involvement in the research for this paper.

---- Disclosure of Financial Relationships for Michael D. Whinston ----

I am a partner at the consulting firm Bates White LLC.

---- Disclosure of Financial Relationships for Ali Yurukoglu ----

I served as paid consultant to Bloomberg Media and to Langer and Grogan law firm on matters related to the research here. However, those parties had no say or influence on the results and directions of research of this paper.

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