"Market failure? What about the market failure — which as far as I can tell never got any attention from a succession of FTC people during the past half-century — of the monopolies and oligopolies created by media organizations during that period? The public affairs journalism was, for the most part, a modest spinoff of the extortionate advertising prices they charged when they had near-absolute market power to charge anything they wished. Only when there’s real competition does the FTC get interested." - Steven Perez from Bookmarklet