publisher, neglecting price and product differentiation. Moreover, a number of dditional parameters are subject of the optimisation process as, for example the quality of editorial contents and advertising Similar market relations as for print media can be found with Internet portals The Internet provider has to optimise access fees on the one hand and advertising rates for banners on the other hand. Also television and radio stations have to consider primary and secondary markets. the broadcasting and advertising ma ket. However, in contrast to other media and apart from Pay TV, free-to-air broadcasters only have to optimise the advertising rate. Despite the absence of prices for viewer, the TV and radio stations compete in program quality in pri- mary markets. A further example of interrelated media markets are cinemas. The cinema operator is faced with the demand for three different products, therefore she has to optimise the respective prices. Apart from ticket prices and advertising rates. also a vector of concession rates has to be set Interrelated markets, also exist in other sectors(even though they are fre- quently associated with media markets). Sports events, for example, combine several markets, where the demand for advertising, concession, broadcasting and last but not least, the event itself, are characterised by interdependency. And also other events like music concerts or theatre performances and, additionally, insti- tutions like amusement parks are all different types of interrelated markets, if dvertising plays any role for these events. I Further features of media markets While the interrelationship of primary and secondary markets is the main feature of the mass media there are also some additional important characteristics to be discussed in the following. These features distinguish media markets from otherpublisher, neglecting price and product differentiation. Moreover, a number of additional parameters are subject of the optimisation process as, for example, the quality of editorial contents and advertising. Similar market relations as for print media can be found with Internet portals. The Internet provider has to optimise access fees on the one hand and advertising rates for banners on the other hand. Also television and radio stations have to consider primary and secondary markets, the broadcasting and advertising mar￾ket. However, in contrast to other media and apart from Pay TV, free-to-air broadcasters only have to optimise the advertising rate. Despite the absence of prices for viewer, the TV and radio stations compete in program quality in pri￾mary markets. A further example of interrelated media markets are cinemas. The cinema operator is faced with the demand for three different products, therefore she has to optimise the respective prices. Apart from ticket prices and advertising rates, also a vector of concession rates has to be set. Interrelated markets, also exist in other sectors (even though they are fre￾quently associated with media markets). Sports events, for example, combine several markets, where the demand for advertising, concession, broadcasting and, last but not least, the event itself, are characterised by interdependency. And also other events like music concerts or theatre performances and, additionally, insti￾tutions like amusement parks are all different types of interrelated markets, if advertising plays any role for these events.1 Further features of media markets While the interrelationship of primary and secondary markets is the main feature of the mass media there are also some additional important characteristics to be discussed in the following. These features distinguish media markets from other 3