The relation between the structure of a market and the diversity of its product offering has been extensively explored by theorists. We develop 2 measures of diversity and explore the content of local news for 60 stations and 20 designated market areas (DMAs) in the United States. Using a relative station-level diversity metric, ordinary least squares (OLS) estimates imply that relative diversity of local news content decreases as market concentration increases. This result is not, however, robust to an instrumental variables specification. Using a total market diversity metric, the Herfindahl-Hirschman Index (Hirshman, 1964) is significant in OLS and robust to instrumental variable estimation. Because the total market diversity metric is arguablysuperior to the incremental metric as a measure of overall diversity, this result is useful-it suggests that the total diversity of local news content within a DMA is sensitive to the level of concentration.
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