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Vertical integration and the must carry rules in the cable television industry: An empirical analysis
Unformatted Document Text:  Must carry rules 10 example, its program offerings, price, subscription level, number of homes passed, channel capacity and ownership. 11 The dependent variable DROP was constructed by using local carriage information for both years. The 1991 electronic Television and Cable Factbook dataset also provided the study with most of the system-level data. Additional system-level, station-level and market-level data were also collected from other sources including Broadcasting Yearbook (1992), Cable and Station Coverage Atlas (1992), Investing in Television (July 1990) and City and County Data Book (CCDB, 1994, electronic version). Table 2 lists the dependent and independent variables used in the regression models, their data sources and selected summaries statistics. 12 Empirical models The dependent variable DROP is a binary variable, measuring if a carriage instance took place in1991. 13 The databases used in this study contain 71,750 and 74,281 broadcast carriage instances in 1991 and 1995 respectively. From the 1995 database, a random sample of 4,000 carriage instances was drawn. 14 If a sample carriage instance was not among the 71,750 carriage instances in 1991, then the station was determined to 11 The electronic databases I obtained for this study were originally acquired by other researchers. In particular, the 1991 dataset was produced in Feb. 1992 and the 1995 dataset in Aug. 1995. 12 All data for the independent variables are for the end of 1991 unless otherwise specified. Note that the summary statistics in Table 2 are those of the 3,966 carriage instances, not those of the individual television stations or cable systems. 13 Because a local broadcast station is usually qualified for carriage by a number of cable systems and a station may be denied carriage by some cable systems but not by others, the study uses "local carriage instance" as the unit of analysis. For a local station, qualified carriage by each cable system constitutes a carriage instance. Mathematically, it is defined as following: Suppose that under the must-carry rules, a cable system i (i = 1, 2, ... N) had to carry m qualified stations, the total number of local carriage instances industry-wide is then ∑ = N i m 1 . 14 Some carriage instances were deleted before sampling. Those involve stations that were from such states as Alaska, Guam, Hawaii, Virgin Islands, Puerto Rico, stations that were from Mexico and Canada, stations that were still under planning in 1995 and stations that were audio only. Some cable systems were constructed after 1991 and were also deleted from the 1995 database. The remaining population of carriage instances from which the sample was drawn had 67,526 observations.

Authors: Yan, Zhaoxu.
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background image
Must carry rules
10
example, its program offerings, price, subscription level, number of homes passed,
channel capacity and ownership.
11
The dependent variable DROP was constructed by
using local carriage information for both years. The 1991 electronic Television and Cable
Factbook dataset also provided the study with most of the system-level data. Additional
system-level, station-level and market-level data were also collected from other sources
including Broadcasting Yearbook (1992), Cable and Station Coverage Atlas (1992),
Investing in Television (July 1990) and City and County Data Book (CCDB, 1994,
electronic version). Table 2 lists the dependent and independent variables used in the
regression models, their data sources and selected summaries statistics.
12
Empirical models
The dependent variable DROP is a binary variable, measuring if a carriage
instance took place in1991.
13
The databases used in this study contain 71,750 and 74,281
broadcast carriage instances in 1991 and 1995 respectively. From the 1995 database, a
random sample of 4,000 carriage instances was drawn.
14
If a sample carriage instance
was not among the 71,750 carriage instances in 1991, then the station was determined to
11
The electronic databases I obtained for this study were originally acquired by other researchers. In
particular, the 1991 dataset was produced in Feb. 1992 and the 1995 dataset in Aug. 1995.
12
All data for the independent variables are for the end of 1991 unless otherwise specified. Note that the
summary statistics in Table 2 are those of the 3,966 carriage instances, not those of the individual television
stations or cable systems.
13
Because a local broadcast station is usually qualified for carriage by a number of cable systems and a
station may be denied carriage by some cable systems but not by others, the study uses "local carriage
instance" as the unit of analysis. For a local station, qualified carriage by each cable system constitutes a
carriage instance. Mathematically, it is defined as following: Suppose that under the must-carry rules, a
cable system i (i = 1, 2, ... N) had to carry m qualified stations, the total number of local carriage instances
industry-wide is then
=
N
i
m
1
.
14
Some carriage instances were deleted before sampling. Those involve stations that were from such states
as Alaska, Guam, Hawaii, Virgin Islands, Puerto Rico, stations that were from Mexico and Canada, stations
that were still under planning in 1995 and stations that were audio only. Some cable systems were
constructed after 1991 and were also deleted from the 1995 database. The remaining population of carriage
instances from which the sample was drawn had 67,526 observations.


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