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SENSATIONALISM, NEWSPAPER PROFITS AND THE MARGINAL VALUE OF WATERGATE
Author(s) -
McCHESNEY FRED S.
Publication year - 1987
Publication title -
economic inquiry
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.823
H-Index - 72
eISSN - 1465-7295
pISSN - 0095-2583
DOI - 10.1111/j.1465-7295.1987.tb00728.x
Subject(s) - newspaper , sensationalism , economics , event study , media bias , value (mathematics) , portfolio , advertising , financial economics , business , political science , law , history , politics , context (archaeology) , archaeology , machine learning , computer science
Newspaper publishers supposedly profit some sensational events. Focusing on the two different products sold by publishers, newspapers and advertising space, this paper shows why sensational events do not necessarily increase publishers' wealth. It also uses financial market analysis to examine the wealth effects of one sensational event, Watergate, on a portfolio of newspaper stocks and on the Washington Post in particular. No significant effects are found.