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     The recent discussion about the revision of German merger control underlines the relevance of media economic questions. This discussion frequently neglects the particularities of media markets, for example the mutual interconnection of advertising and media markets, i.e. of “two‐sided markets”. In this paper the impact of “two‐sided markets” on mergers is analyzed. The results indicate that an intensive analysis of each case because of the heterogeneity of each market and a stronger economization of merger control would be useful. The basis for an economization could be quantitative analyses that are conducted using existing market data. The print media market is an example of the peculiarities of “two‐sided markets” at which network externalities lead to pricing behavior that deviates from that on normal markets.

Horizontale Fusionen auf zweiseitigen Märkten am Beispiel von Printmedien