Handcuffs for the grabbing hand: media capture and government accountability

It has long been recognized that the media play an essential role in government accountability. However, even in the absence of censorship, the government may in‡uence news content by maintaining a “cozy” relationship with the media. This paper develops a model of democratic politics in which media capture is endogenous. The model o¤ers insights into the features of the media market that determine the ability of the government to exercise such capture and hence to in‡uence political outcomes.