ABSTRACT
T HE traditional rationale for a system that treats broadcastingand the print media differently in terms of First Amendmentprotection is that the broadcast spectrum is scarce and, as a consequence, everyone who would like to own and operate a broadcasting station cannot do so. This study raises the Question ofwhether it is easier, from an economic point of view, to get into the newspaper or the broadcasting business. The discussion that follows focuses on the non· regulatory barriers to entry that entrepreneurs face upon entering the daily newspaper, television, or radio industries. Three types of economic barriers to entry (see Scherer, 1970, p. 230) are discussed:
The first barrier to entry is examined through a comparison of the capital requirements for starting a new daily newspaper, a new television station, and a new radio station. Purchase prices of daily newspapers, television stations, and radio stations in comparable markets for the years 1979 to 1983 are then compared. Examination of the second barrier to entry takes place by inspecting the revenues and expenses incurred by AUTHOR'S NOTE: Igratefully acknowledge the funding support provided by the National Association of Broadcasters toward the completion of this essay.
