We find that advertising induces the editors to moderate the political message they would have otherwise selected, in order to make their newspaper more attractive as a media support for the advertisers. The analysis differs however from the present one by two elements. First, receipts of newpapers’ editors not only include advertising revenues, as for TV-channels, but also revenues resulting from newspapers’ sales to the readers. Second, readers’ ad- vertising aversion is not as significant as the one observed in the TV-viewers’ population, because newspapers’ advertising has a more informational content than TV-advertising, which has mainly a persuasive purpose. Finally, Sonnac (1999) provides an analysis of the consequences of.
