Besen, Stanley M. and Ronald Soligo (1975), "The Economics of the Network-Affiliate Relationship in the Television Broadcasting Industry." American Economic Review, 63(3), 259-268.

EXCERPT:
"Under various acts of Congress, the Federal Communications Commission is empowered to regulate the television broadcasting industry in the public interest. Among the Commission's objectives have been the promotion of program diversity, the encouragement of local programming, and the maintenance of widespread 
ownership of broadcasting facilities. In order to further these objectives, the FCC has limited the number of local broadcasting stations which can be owned by any one group of individuals or corporations, including networks, and forbidden network affiliates from entering into agreements to accept specific amounts of network programming during specified hours. In addition, the FCC has recently established a ceiling on the number of hours during prime time which. a local station can "clear" for network programs. In this paper we have formulated a model of the network-affiliate relationship which allows us to examine the effects of each of these regulations and to examine the extent to 
which FCC objectives are consistent with one another."