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Abstract
This study analyzed the trends of multi-platform competition and local television stations competition in the past 10 years. It also investigated the impact of two kinds of competition on financial commitment and financial performance. This study used correlation and regression tests to explore relationships between competition and news expenses and, competition and profits of affiliates in all DMA markets. The study found that multi-platform competition has increased. Local stations competition has declined from being highly concentrated to moderately concentrated in markets smaller than Market 80. Competition had a positive impact on the financial commitment and financial performance, while market size and political events also had impact on the revenue and profit of affiliate stations.