The paper reviews the ongoing economic literature on media markets but with a sharp focus on the pluralism issue. The authors start with the basic economic model to describe how the media market functions and then use the model to illustrate the key economic contributions according to the two-sided market, media bias and media capture. Finally the paper addresses the pluralism issue, incorporating both the provision of and the demand for information.
Keywords: Media market, pluralism
Jel Code: D80, L82, Z10