100 mg female viagra cialis drug information purchase ondansetrona in usa kroger pharmacy anderson indiana aristocort ringworm vente de diovan au quebec cipro 1000 mg dose what is wellbutrin mg used to treat can you buy colospa in ireland plendil cost comparison 5mg buy urispas next day best lisinopril prices maxaman to purchase without a prescription generic olistat cost olistat online nitroglycerin pills container exelon order on web brand levitra canada overnight delivery beat way to order eldepryl what is actonel once a month purchase promethazine lowest price zyvox sales generic pharmacy can you take promethazine daily cheap xeloda buy online desyrel cheap uk movalis birth control online canada buy priligy online pharmacy best university for pharmacy in canada where is bora bora tahiti cheap tricor mg metoclopramide visa where do i buy dramamine original prednisone online blopress western australia isoniazid buy online mexico atorlip 20 bonus pills ranitidine hcl manufacturer india where to buy medrol online usa why seroquel causes weight gain buy prednisolone in ireland s and m chords buy nolvadex online from india tretinoin 0 05 mail order india viagra comprar anacin usa african american hydrochlorothiazide erection packs 3 pills online in the uk evista without a prescription from india is mail order anacin safe sarafem lowest price online metformin reviews 2011 phexin online order buy bath salts drug online australia buying citalopram for dogs tenormin online uk motilium cause weight gain better than sinemet amitriptyline purchase in canada no prescription hydrochlorothiazide without prescription pills viagra professional maximum dosage order generic lansoprazol what is doxycycline generic for fasigyne legal us best place buy albenda pct generic levitra super active in usa purchase toprol xl in mexico vagifem on line in the mexico motilium drugstore.com parlodel prescriptions buy viagra cheaply where to buy dutasterid without a prescription best viagra to buy generic erection packs 1 india clincin supplier in uk fluconazol buy canada pharmacy has best price saw palmetto buy glyset for daily use clomid without trigger shot quickest seroquel yagara online canada withdrawal symptoms from paxil duration alfa flucon over the counter canada pregnancy success rates clomid iui acheter pas cher combivent medication without prescriptions uk buy accutane tablets nizoral with no rx does accutane have permanent results viagra legal in india meclizine uk companies only zovirax generico how to buy diovan in london arimidex shopping buspar prices cvs buy elimite tablets us non prescription ciprofloxacina buy avapro tablets online contato de pessoas que vendem o cialis generico no brasil buy digoxin capsules generic etabus uk there generic cephalexin arthritis treatment drugs tadalis tablets from buy floxin reviews for men betamethasone valerate 0.025 what percentage does propecia work where to buy doxi 1 online mexico depakine chrono sublingual dosage celexa side effects rxlist requip trusted online drug stores in canada lamisilate canada companies only alavert dose is flomist nasal spray safe during pregnancy brand viagra reviews for men purchase generic bupropion lopressor generic for vagifem drug in mexico pharmacy elocom maximum dosage drugstore atlantic city football stats app where to buy alesse birth control is remeron legal in uk buying hydrochlorothiazide from canada no prescription what does ampicillin 500mg treat riperdal online usa no prescription buy augmentin with no rx order feldene online no presctiption american duetact canada drugs dutas with prescription buy generic altace online clorfenamina dosis viagra jelly tablets uses generic dostinex buy meri adalat 1984 watch online voveran overseas wellbutrin xl drug classification voltaren 75 mg tablets where to buy retino a cream in canada safely lexapro safe dose range can you get levothroid acai berry pills walmart price cialis viagra counterpunch drugs where to get viagra in chennai procardia cheap us pharmacy cheap zestril 100 mg no prescription fincar sale astelin drug schedule can i get sarafem comprar vagifem portugal get pain pills online amitriptyline non perscription countries eldepryl online price misoprost lawsuit where to buy zyprexa online usa albenza prescription only purchase tamoxifen online no prescription over the counter medicine containing metronidazole voveran sr tablets 150 mg betoptic online usa elocom online usa viagra soft pharmacy order express shipping retino a cream 0 025 tadacip generico italiano why is there a shortage of malegra fxt beta val buy mexico there generic drug prometrium mail order generic geriforte donde comprar dostinex buy meclizine boots pharmacy malegra fxt tablets uses acivir pills canada no prescription can ceftin tablets be crushed diclofenac cheap australia pharmacy where can i buy tamoxifen mg minipress rxlist amitriptyline drug store online how to purchase thyrohormone sale kytril best place to buy zyvox in usa over the counter medicine that acts as metrogel can i order motilium no prescription in the usa clopidogrelum online from usa cost of coumadin without insurance mixing acyclovir and alcohol comprar aprovel en argentina what is adalat for seasonique without prescription medication balika vadhu desi tashan 27 december 2012 ordering flovent usa buying asacol online order disulfiramum without prescription purinethol pharmacy prices list azithromycin tablets usp 250 mg uses why is there a shortage of prednisolone pulmicort brands india minocycline generic buy florinef australia companies only atacand drugs for sale cheap mircette india levothyroid cost in canada buy prilosec in uk where to buy seroquel online canada dramamine online what is claritin tablets celexa 10 mg price stromectol no prrescription prescription prednisone and pregnancy what is the shelf life of augmentin pills renagel trusted online drug stores in canada buy generic actonel with bonus flagyl medicines zanaflex order colchicine pas cher italie ponstel shelf life generic metronidazole switzerland ceftin fast india atacand 16 mg side effects janumet next day beat way to order revatio brimonidine tartrate generic alphagan p is prilosec better than protonix atorlip 20 canadian pharmacy generic motrin usa pharmacy cialis super active online india side effects of long term use of florinef viagra sublingual from mexico rogaine 5 india companies only reviews on acai berry diet brand amoxil pills online in the india list of tesco stores selling frusemide plendil without a prescription from australia low cost overnight vantin how to buy keftab we bought a zoo wiki order neurontin without rx brafix next day shipping renagel delivery london probenecid colchicine tablets zoloft drug store online starlix side effects uk buying ventolin using paypal aldactone pills online in the australia cefixime on line in the usa differin without prescription miami tretinoin for men sale in uk hoodia spain best place to buy clonidine without a prescription brand amoxil drug in usa pharmacy order clincin from australia without prescription buy triamterene pills in the us nizoral cream hair loss long term side effects of furosemide norvasc italiano actoplus met from australia aciclovir from europe buy rumalaya liniment australia cymbalta generic date 2013 safe to buy generic esperal from uk buy medication without prescriptions himcolin no prescription canada prazosin precio mexico buy cheap generic acticin cough medicine with phenergan can celebrex cause weight gain cabaser not generic ba american express uk login us online pharmacy no prescription thyrohormone buy frumil cheap eurax from australia buy detrol online no prescription canada no prescription shallaki sale buy lamisilate online uk no prescription calan discount where to buy bactrim drugs online lipothin brand positioning order exelon on line uk list of prescription male enhancement drugs inderal birth control online us where to buy generic estrace cream buy ampicillin inhaler canada oestrogel supplier in uk indocin without a prescription from us methotrexate medication contraindications depo medrol 40 mg costo citalopram birth control pills how to order obelit online confido discount where do i levothroid in canada cost of clomid or serophene where do i vytorin in canada lowest priced feldene can you take extendaquin daily cleocin t gel no prescription propecia price walgreens clomifene from india aceon prices usa tamoxifen 20 mg clarina 100mg cheep kamagra now net gel online rumalaya forte purchase bystolic overseas ovral l canada drug store meloxicam 15 mg vs aleve emsam lawsuit canada celapram buy online canada what does alli trippy do can you buy elimite cream over the counter finasteride hair loss forum cymbalta without subscription allegra canada no prescription generic uk paypal toprol trazodone tablets 50 mg tab nootropil where can i buy ondansetrona dosage instructions gusher pharmacy mexico top 10 online erexor sites cordarone 10 mg elavil tablets uses where to buy minocin online usa calan spain alli noprescrition needed uk online pharmacy cheapest confido tablets uk blue capsule orlistat 60 buying viagra online in australia buy rogaine 5 cheap reviews on himcocid serophene buy uk cheapest levitra sale uk proventil birth control online uk buy metronidazol canada propecia drug in canada pharmacy pharmacy mexico kamagra can you get retin a 0 05 purchase metronidazol in mexico canadian acivir pills tablet fucidin comprare where can i buy promethazine online can you buy glycomet cipro online from uk wellbutrin sr generic cost fast geriforte syrup deleviery what class of drugs is citalopram can i get ophthacare can i buy albenda in canada zyvox for sale online cost of wellbutrin zolpidem uk buy watermelon viagra blogs neurontin legal in england paxil online bestellen tetracycline reviews rosacea can buy vermox over counter oestrogel without insurance voltaren on line in the usa levitra without rx buy aceon mg online order differin 1 brand name arjuna online overnight delivery trazodone no prescription methotrexate usa no prescription buy pyridium otc dapoxetine direct pharmacy buy flucazole low cheap price l tryptophan online pharmacy uk stromectol ordering online pharmacy when will singulair go over the counter where to get kamagra chewable pct beat way to order coreg innopran xl worldwide zedd australia price analysis of aspirin tablets discussion cheap thyrohormone mg buy retino a cream 0,025 online with out prescription buy viagra jelly 10 levitra drug in uk pharmacy how to get free viagra on nhs what is astelin spray used for levothyroxin on line in the india purchase robaxin acticin pills penegra tablet price in india buy brand mentax doryx generic launch zertalin uk no prescription how long does it take for bupropion hcl to work what does a voltaren pill look like yagara cheap uk ivenox mexico pharmacy order olanzapine online no presctiption amantadine overnight female cialis buy mexico micronase visa buy chloroquine proguanil tablets canadian drugs northwest pharmacy tinidazole cheap buy free overnight pharmacy generic name for meclizine actavis promethazine sale cialis super active best price best site for serevent generic oristal usa pharmacy is generic zertalin effective allopurinol brands in india viagra cialis levitra trial pack online pill kamagra oral jelly no prrescription can i get pregnant on levlen ed get coumadin toronto stieva a generic usa get atorlip 20 las vegas buyers of elocon canada phenergan limited india hydrocortisone side effects cream generic prilosec otc 20mg to buy tretinoin in uk generic colchicine cost is there a shortage of actoplus cheap levothroid india safe buy tindamax online what is atorlip 20 tablets where to buy cheap generic cabgolin lipitor online without rx buy tegretol online no prescription buy lamictal 100 mg uk depakote tablets information leaflet generic septilin us emoquette refills haldol cost in canada buy doksazosin lek pills in the us buy ortho tri cyclen mg online for astelin without prescription non persciption clomid astelin from canada with no prescription purchase prinivil in uk buy zestoretic online no prescription usa clincin generic india allegra on line in the canada buy emsam mg online diarex tablets side effects of ceftin in children bonnispaz in costa rica buy fucidin tablets australia very cheap c ratioph generic wellbutrin sr usa pharmacy glucotrolxl the chepest himcocid i want to pay some diprolene dilantin online usa no prescription lamisil commercial digger quiero comprar betnovate tizanidina reviews for men cipralex forum uk advair diskus contains a combination of avapro results forum order jelly from pills viagra online clavamox pill dosage for kittens purchase aloprim mg cost of mail amoxycillin zertalin cheap india pharmacy ali yasmin australia requip spain asacol buy online ireland best generic zyvox sites what is the correct dosage of antivert deltasone buy online canada flagyl er without a prescription from mexico elimite cheap uk pharmacy mail order combivent online pharmacy buy drugs fluoxetine us pharmacy online periactin keflex 500 mg costo cheap lansoprazol no prescription aricept 23 mg prices non generic cefixime where can i get nolvadex for pct ciprofloxacin wikipedia indonesia us pharmacies online that sell retino a cream 0,025 side effects of precose aricept evess 10 mg 28 agizda dagilan tablet prednisone 10mg tabs pack 21s purchase lipitor online no prescription best way use cytotec abortion is orlistato legal in uk buy diabecon visa purchase retin a in canada pharmacy buy drugs floxin can diovan cause you to gain weight what does flucazole endep drugstore.com legal buy duphalac online canada buy nolvadex d uk best price ranitidine best time to take depression medicine reviews on nitrofurantoin buy orlistar canada buying mircette using paypal cialis canada pay paypal where can i get acai berry in nigeria orlistatum without prescription medication discount apo clopidogrel otc can you buy viagra in thailand avalide prescription only purchase diovan in mexico aviane 28 fast canada nizoral 1 shampoo amazon best site to buy brafix medrol dosepak over the counter canada and seroflo cipralex without prescription order lamisil spray canadienpharmacy24 costco pharmacy premarin price buy extendaquin tablets us brand levitra sale generic can you buy hydrochlorothiazide canadian pharmacies rx mail order riperdal online buy lozol online thru paypals ordering cialis sublingual prescription amoxicillin chest infection not working walmart cialis price best mentax prices floxin generic equivalent kwikmed co uk discount klipal codeine mg buy acai pulp melbourne imitrex india pharmacy dutas drug class thyroxin fast uk biaxin mail order cheapest indocin paypal minomycin buy online us buy biaxin online with no prescription purchase pletal cheap buy prednisona tablets australia to buy calcium carbonate vasodilan in croatia generic uk paypal l thyroxine ordering strattera mexico carvedilolo uk no prescription the chepest asacol doxazosin order canada recommended dosage of prednisone for dogs buy tofranil australia mexican pharmacy no prescription cozaar effexor xr side effects and alcohol azitromicina no prescription needed canadian online pharmacy do you have to take cialis everyday allegra 30 mg disintegrating tablet generic orlistato safe how much will diclofenac gel cost nitrofurantoin over the counter usa astelin india no prescription viagra alternative uses safe buy brand cialis online generic sominex no prescription caprysin tablets buy mentat medicine buy lotensin online from india toprol next day delivery safe place order revia para que se usa ciprofloxacino azitromicina noprescrition needed uk online pharmacy elimite medicine online buy yasmin online flagyl er tablets online legal to buy mobic cheap pulmicort flexhaler doxycycline 100mg treat pneumonia generic aciphex usa do you need rx brand cialis metronidazol generic usa where to buy allegra online without rx purchase ciprofloxacina in australia can you buy zyrtec over the counter sildenafil citrate shortage buy cheap decadron using pay pal what is cordarone for unisom tired next day singulair price comparison benicar online coupon buy zestril tablets australia can i get riomont over the counter purchase phenergan on line in mexico can i get exelon percocet uk brand name etabus tablets price long term side effects of taking lamictal siberian ginseng seeds australia what is vermox 500mg used for amoxicillin 500mg dosage how many days brahmi 20mg tab what kind of infection does bactrim treat online pharmacy uk simvastatina almetec online purchase viagra without prescriptions paypal approved canadian retin a 0 05 side effects long term use buy elocom cream buy priligy new zealand online levitra comprar online valaciclovir for men sale in uk levothyroxin next day buy serophene no prescription furniture new london ct craigslist best generic viagra online reviews can i make lariam buy nizoral quick aygestin buy online australia express scripts prior authorization form for adderall can you buy tadalis sx over the counter in germany buy finax online no prescription us discount code for keflex what does prazosin feel like what is erythromycin es tablets 400mg cytoxan online order olistat with prescription advair diskus mist canada long time side effects simvastatina purchase ampicilina in usa retin a 0 025 phone orders famvir 750 mg tablets can you buy motrin 800 over the counter flunil no prescription aricept from canada with no prescription canada and feldene purchase sinequan in usa cheap canadian nootropil no prescription metronidazole orally flagyl 500mg long time side effects aleve best generic xalatan review medication from mexico retino a cream 0 05 levitra super active drug in mexico pharmacy zofran 8 mg tablets albuterol online pharmacy uk nitrofurantoin mono mac 100mg caps price side effects of zaditor eye drops xenical drugstore com buy avandamet pills online levothyroxin canada no prescription topamax overseas biaxin comprar maxalt pills sweat buy arzomicin in singapore pharmacy mexico levitra plus shoppers drug mart sell viagra can you buy viagra over counter spain levitra without insurance buy metocarbamol tablets mexico buy tetracycline ophthalmic ointment buy levothroid online no prescription us cheap medazole sale uk online pet meds canada where can i buy asacol in canada aspirin delayed release tablets usp 75 mg can you buy coreg carvedilol is capoten legal in uk dulcolax tablets online cheap genuine coversyl online bactrim buy online ireland i want to pay some sertralina order hyzaar overnight suppliers of zyloprim in us levitra medication side effects where to purchase retin a ge himalaya cystone price how to use hcg and nolvadex as pct much does doxycycline cost canada acyclovir pregnancy category when will lipitor generics be available effects of taking thyroid medication where to get real viagra non prescription pyridium pharmacy is aciclovir available over the counter buy flagyl er online with no prescription kelnor usa pharmacy compare meds online review tadalis sx prices how much will estrofem cost silagra 100 cipla a good web page to buy rythmol with no script ventolin hfa aer inhaler is benadryl a prescription drug what is tizanidina made of cheap chloramphenicol prescription celebrex celecoxib where could i buy phenergan without prescription acai berry pills do they work boots pharmacy opening hours tunbridge wells best rx online pharmacy india naprosyn pills drugstore omnicef max dose buy rumalaya gel online what drug category is sustiva a good web page to buy sildenafila with no script metformin hydrochloride 500 mg pcos where to buy amantadine drugs online viagra 25mg or 50mg clomid generic equivalent best site to buy indinavir where to buy erexin mg mexican pharmacy no prescription flunil can order dramamine canada femcare to buy in england augmentin 625 duo price in india compare prices claritin what kind of medicine is wellbutrin fluconazole alcohol nhs buy zitromax online amazon pilex mg price fastest flucazole uk delivery canada buy duetact without prescription dapoxetine drug canadian pharmacy canadian online pharmacy for lanoxin aciphex generic available maximum dilantin loading dose buying toprol in manchester genuine tofranil best price anti anxiety drugs no side effects plavix generic equivalent 2012 purchase dapoxetine cheap lipitor canada online no prescription pharmacy that sells bentyl ortho tri cyclen drug in mexico pharmacy cheap prescription buy skelaxin can buy clonidine online prometrium generic australia paxil withdrawal lawsuit 2012 prandin buy online india order extendaquin from usa without prescription buy lamisil cream online cheap prescription levitra 20 mg buying septilin using paypal buy levitra plus mexican pharmacies where can i get some nymphomax generic citalopram 20 mg craigslist boats long island new york hydrochlorothiazide online coupon code order levitra super active without prescription colchicine pills online in the usa orlistat medicine net how to buy levothyroxin in london online clincin india buy zyprexa tablets mexico gabapentine online from uk how to take alesse birth control buy rumalaya liniment 10 long term side effects of caverta copegus how to buy micronase without a prescription from australia femara price philippines buy ivenox online no prescription canada what is baclofen pump for buy altace tablets lowest buy ampicillin online orlistato birth control online mexico coming off effexor xr side effects buying cefixime from canada no prescription best generic apcalis sx sites how to take acai berry pills properly extenze where can i get warafin voltaren retard 100 mg diclofenac where to buy aripiprazola online canada abilify online without prescription imuran prices cvs buy benicar with a mastercard order zertalin no rx canadian pharmacy simvastatina pills online in the uk nootropil pct buy does medicare cover viagra in 2012 sominex medicine online buy female viagra online mexico no prescription best site get lopressor singulair discount pharmacy buy raloxifeno have no prescription buy atorlip 5 bulk buy provera greece biaxin xl 500mg reviews usa buy arzomicin without prescription aldactone side effects uk innopran xl delivery london where can i buy alli for cheap online doctor prescription for viagra zetia pills online in the mexico alli slimming pills side effects estradiol valerate buy uk indian generics online omnicef c ratioph online bestellen compare prices warafin is topamax a prescription drug zofran over the counter drugs buy dilantin canada zenegra from mexico buy atorlip 20 without a subscription red viagra 100mg betnovate c review generic diakof over the counter drugs similar to kamagra decadron pct buy erythromycin costco amantadine prescriptions flagyl for dogs buy compare birth control pills alesse generic menosan uk paypal where purchase pariet buy kamagra usa buy parlodel capsules buy dipyridamole online uk no prescription difference between propecia and finpecia bupropion buy australia prinivil without a prescription from uk pharmacy has best price toradol procardia drug in germany pharmacy claim secure pharmacy prescription cephalexin 500 mg selling methotrexate buy kelnor perth australia alphagan cost canadian buy zyprexa online canada benzac daily use reviews best price for real disulphiram vytorin limited india how effective is anafranil for ocd zyban smoking pills prednisone 20 mg dogs side effects amlodipine besylate 5mg tab side effects ordering zydis mexico bentyl im dose can you only get actonel on prescription order diflucan online no prescription with a visa buy growth rx uk best site for astelin search by image iphone app qnexa diet pill online tadacip prices usa is generic viagra safe purchase lopid in mexico tretinoin 0,05 limited india buy levitra plus in usa azurette italiano ventolin delivery femara shortage wigraine uk no prescription pravachol pills sweat prinivil drugstore com pricing cialis soft to buy in the usa without a prescription depakote and alcohol side effects nexium mups 40 diclofenac sodium overdose side effects diclofenac tablets australia prandin buy online ireland accutane uk nhs foro propecia generico vermox prices at costco oestrogel no script finpecia cipla fake buy allegra paypal toradol canada online no prescription buy motilium without prescription online pharmacy relafen estradiol valerate from canada without rx keftab cheapest rate where amaryllis outdoors bulb safe isoptin no precription accutane pharmacy assistance hydrodiuril birth control online us purchase tadapox cheap doksazosin lek online usa no prescription how to get propranolol drug purchase keftab in uk side effects of amitriptyline zofran pills buy best site for brafix buy innopran xl australia coversyl generic usa genuine aldactone oder mg tablets of medazole infertility fertility drugs for sale is it illegal to order generic plavix online no prescription uk for clonidine what is cholestoplex drugs half price amoxycillin lipitor pct buy buy levothroid inhaler canada overnight 100mg clamid voveran sr pill canadian order augmentin from usa without prescription generic tenormin for sale on line buy nitroglycerin online amazon what are the side effects of cozaar comp do you need rx hydrodiuril health canada levitra plus buy ampicillin astrailia sustiva new zealand buying neurontin where to buy colchicine online india canada drugs levothroid with prescription sublingual nitroglycerin spray dosage diclofenac without a prescription from us is generic ceftin available in usa purchase tadapox cheap impotency erectile dysfunction pills phone in order for lanoxin why has deltasone been discontinued can i make carvedilolo order didronel online uk levitra professional noprescrition needed usa online pharmacy rogaine 2 prices cvs how much will kamagra chewable cost order zofran from can you use bactroban cream in nose betapace prices where do i disulfiramum in india se puede comprar viagra en la farmacia sin receta chloroquine precio mexico no prescription keppra acheter brand advair diskus use trial erection packs 3 coupon online zofran cost comparison baclofen alcohol treatment 2011 where to buy ovral l ointment himcocid tablets online is it illegal to buy medications online anastrozolo cheapest rate chloromycetin usa no prescription where to minomycin where cane i buy citalopram buy alfa flucon low cheap price safe renagel no prescription generic dapoxetine uk paypal generic flovent alternative mobic generic australia calan supplier in uk coversyl delivery uk sertraline withdrawal symptoms brain zaps brand amoxil buy online us desyrel generic uk best price rogaine 5 buy femara in ireland order amaryllis flowers generic erythromycin paypal get mentat ds syrup toronto cheap diabecon buy tadalis pills in the india cefixime antibiotic price levaquin medication assistance ordering ponstel uk viagra womens viagra discover stratford reviews online pharmacy flagyl er generic indinavir in usa order meloxicam enolat uk pharmacy best generic viagra site i pill diclofenac website zoloft brand order prescription drugs from india safe thyroxine uk sale mexico pharmacy drugs to buy tetracycline buy viagra jelly online mexico no prescription best place to buy celadrin in india yagara from canada with no prescription buy generic arzomicin online order duprost online without rx over counter glucotrol xl viagra generico line italia buying tadapox canadian pharmacy online aldactone what is ranitidine hcl 150mg tab used for online no prescription uk for salbutamol avodart pct buy waar cialis kopen el viagra se vende sin receta en mexico ampicillin noprescrition needed canada online pharmacy cephalexin 250 mg dosage for dogs buy neo medrol acne lotion uk buy zocor online india biaxin dosage rxlist how to use etabus buy bupron sr online australia no prescription hytrin on line no script generic uk paypal nolvadex clonidine 1 mg tablets cipralex generic uk buy rosuvastatin online no prescription us what does levaquin do to your body betapace pill shop discount code clomid uk pharmacy plavix canada buy grifulvin v pill canadian neurontin for nerve pain reviews cheap buy generic clomid comprar diltiazem en argentina orlistato uk online brahmi canada paypal role of allopurinol in chemotherapy where to buy vpxl online uk discount pyridium otc buy acyclovir online online pharmacy asacol haldol online store salvent noprescrition needed uk online pharmacy indian generics online duprost cefixime oral suspension for babies lady era canada drugs best pharmacy to order levitra dipyridamole generic price nootropil canadian medications without prescription buy artane astrailia buy erection packs 2 mg online for best site to buy erection packs 3 prednisone results forum ordering low dose nexium buy fluss 40 online canada esperal no rx terramycin uk pharmacy generic uk paypal nizagara sildenafil citrate generic release date purchase lipitor canada tamsulozin medicine online zocor uk pharmacy mexican pharmacy no prescription torsemide safe alli no prescription c ratioph without rx is there a generic alternative to voltaren gel order noroxin 120 mg percocet fast mexico flagyl brands india testosterone cream women uk metoprolol side effects dreams how to use flovent with spacer zentel without prescrip lipothin without subscription promethazine with american express viagra drug in uk pharmacy how much does lipothin cost lasuna price india what is the correct dosage of eurax where do i retin in canada apo clopidogrel shelf life vermox medicine dosage avalide medicine 400 mg lisinopril sale lamictal discount coupons where can i get some sertralina buy endep 40 lipitor pills over odor abilify 100mg merck fosamax sales viagra plus cheap india pharmacy pliva 433 get high acnetane pills best online pharmacy generic etodolac generic ophthacare for sale on line isoniazid mexico pharmacy buy wellbutrin sr online at canada pharmacy raciper birth control online india where to buy erection packs 2 without a prescription order uroxatral cheap overseas pharmacy no prescription retin a 0 025 buy lukol from canada achat viagra pfizer en ligne proventil tablets 150 mg ordering cialis sublingual order lincocin canada serophene without rx viagra price in hyderabad haldol italiano ventolin 100mg cheap very cheap himcolin costco pharmacy kamagra soft price venlafaxina pills online in the india medco mail order forms prescriptions best place to buy real viagra singulair online no rx eulexin 40 mg dose eulexin 10 mg cost resources for unisom singulair for purchase without a prescription cheap buy calan online generic order cabaser without prescription safe buy female viagra online normal dose of po zofran ordering low dose pyridium diovan hct side effects mayo clinic safe serevent no precription deltasone tablets buy what is shatavari root how to take azithromycin 250 buy amoxil australia unisom no prescription reviews birth control pills rumalaya forte protonix generic fda approval buying abilify using paypal missed sinemet dose z pack pregnancy category coreg side effects long term use yagara generic australia flagyl dosage diverticulitis list of tesco stores selling levlen order valaciclovir online uk propecia cost per month generic uk paypal minocin generic omnicef sales no script retino a cream mg diamox usa pharmacy side effects cipro flagyl together what is promethazine vc w codeine syrup buying viagra in hong kong no prescription lantus sale safe norvasc no prescription buy levitra professional mg synthroid discount prescription drugs brand cialis reviews for men buy feldene online from mexico is it illegal to order generic nitrofurantoin what types of nootropil are there orlistato uk brand name what is tretinoin 0,05 for purchase mentat on line in the uk cefixime in the uk cheap apo furosemida uk where can i puchase minomycin buy real viagra online glyset 5mg tablets arjuna pills online in the india hydrochlorothiazide tablets inactive ingredients the sons of sol pharmacy house mysoju top drugstore products 2010 ordering dutas i pill kamagra gold website where to buy lipothin online canada trental prices cvs seroquel usa pharmacy hytrin uk brand name demadex mail order glucotrol phone orders low price exelon uk generic medrol shortage what is lotrisone used to treat canadian drug company celexa augmentin shelf life liquid albenda drug class estrace sublingual dosage erection packs 3 max dose strattera online meds mail order novo digoxin online online levothyroxin india roxithromycin in croatia mail order rx from canada how long does it take for atarax to leave your system elocon cream anus buy albenda online from mexico cheapest l thyroxine paypal generic viagra sample packs otomax online bestellen american express canada travel assurance chloromycetin canada head office what is premarin vag cream for malegra dxt drug in canada pharmacy buy viagra professional 15mg online mail order alesse where can i buy terramycin tablets skelaxin online pharmacy shipped to canada nitrofurantoin to buy from europe where to buy cheap generic depakine chrono best place to buy cialis online uk can i order bactroban online xalatan price usa walmart pharmacy singulair generic noroxin online meds buy retin a 0,025 online thru paypals venlafaxina online in canada maximum dose of plendil best website buy viagra online generic erection packs 1 no prescription phenamax review prometrium mail order india purchase aciclovir strattera on line in the canada how much does viagra cost at pharmacy order cefixime online with visa discount aristocort from canada metronidazole for sale philippines ordering ortho tri cyclen uk neurontin purchase procardia best price what is flagyl cream used to treat brand name diclofenac online canadian health card renewal how much will sominex cost side effects of arthrotec 75 tablets what is lipitor medicine order zithromax online no presctiption where cyklokapron snovitra super power coupons where to buy serevent with echeck erythromycin mg buy naprosyn online usa cheap confido free delivery duetact canada no prescription purchasing cialis professional online pharmaceutical machinery manufacturers in india fastest tretinoin uk delivery buy compazine without a prescription from canadian pharmacy vermox dose for cats cordarone for sale online online lansoprazol purchase purchase aciphex 10 mg donde puedo comprar noroxin cheap pantoprazole 40 mg stieva a mg no prescription extendaquin cheap us pharmacy online estrace purchase viagra pill shop discount code buy ventolin asthma inhalers what are antibiotics for kids ordering super active levitra online norvasc generic equivalent side effects beconase aq to buy in england zocor canada dutasterid no prescription compare prices how fast does viagra work yahoo olistat canada pharmacy buy mirapex greece hydrea prescription coupon xeloda women buy lotrel noprescrition needed usa online pharmacy generic priligy usa pharmacy how much is zitromax tablets venta de viagra en farmacias cruz verde ciprofloxacina pastile prospect low cost overnight viagra soft risperdal medication and children cheapest place to buy micronase what is casodex for aripiprazola buy australia zovirax cream for children buy ivenox xr without prescription buyers of diovan canada cost of celexa without insurance japanese drugstore band where can i buy clomiphene citrate for men safe tretinoin 0,05 no prescription buy levothyroxine synthetic thyroxine t4 calcium carbonate plant for sale how to get viagra to work faster order lisinopril online uk buy wellbutrin sr online no prescription united states retin a gel 0,1 without prescription medication phone in order for serevent cialis over counter spain what is sofilex cephalexin 250 mg buy online elimite generic discount eurax from usa trial erection packs 3 discounted buspar fast canada discount motilium otc order etabus online no prescription with a echeck diamox prescription drug amoxycillin cost in canada buy eldepryl pills in the us generic for depakote er 500mg buy tizanidinum online us no prescription celebrex not generic order flunil online uk purchase aleve in australia a good web page to buy otomax with no script florinef no prescription fedex ups abilify rx assistance program acnetane for sale arimidex without insurance female cialis brand order vermox online forum walmart pharmacy abilify levitra no prescription paypal pharmacy where to buy generic zyrtec d drugs online vantin purchase prescription erythromycin acne long time side effects asacol generic actos 25 mg prescriptions abilify online canada buy kytril worldwide shipping rxlist risperdal drug long time side effects kamagra chewable forzest in the uk bupron online pharmacies with out prescription lisinopril side effects fatigue clomid no prescription paypal eurax brands india biaxin over counter uk buy dilantin with a mastercard buy dapoxetine online with mastercard over counter retino a cream 0,05 levitra shopzilla cipralex alcohol liver damage use permethrinum coupon online is it illegal to order generic asacol fertomid over counter uk pharmacy buy drugs metronidazol actoplus met brand positioning sustiva overseas keflex antibiotic for strep throat generic exelon paypal co diovan dosage ditropan to buy in england best place buy lotrisone what is tegretol mg used to treat zitromax online usa nordette online australia non prescription sinemet pharmacy where can i get omnicef torsemide delivery london compazine pharmacies acquistare metformin in italia coumadin medication side effects alfa flucon lowest price online birth control pills imitrex generic actoplus for sale on line cialis 20 mg price cvs extendaquin canadian online overnight pharmacy is celexa better than wellbutrin order erection packs 12 pharmacy mexico benzac order ceftin from usa without prescription biaxin tablets for purchase what diseases does tetracycline treat what are zantac pills used for generic minocin buy canada buy glyset online reviews buy oracea pills in the canada finisteride viagra buy atarax to buy in the uk without a prescription best generic pletal sites norvasc without prescription miami best price for real ophthacare viagra soft shortage voltaren refill pack can order detrol canada amitriptyline hcl cost canadian skelaxin tablet post cycle therapy ciplox is it legal to get prescription drugs from mexico cheapest drug bactrim generic evecare paypal carvedilolo birth control online india can u buy water pills buy suprax no prescription cialis reviews 20 mg is it illegal to order generic lipothin where is crestor manufacturer donde puedo comprar singulair serpina generic cheap canadian parlodel no prescription generic lioresal uk paypal neurontin online overnight canadian pharmacy anastrozolo colchicina for dogs buy mevacor online canadian order prinivil on line india where to buy benadryl online uk ortho tri cyclen not generic symptoms of chlamydia in men throat where to get zydis pct generic beconase aq in usa buy phenergan online from india canada buy nexium without prescription disulfiramo cheap us pharmacy buy florinef mg minipress australia how to buy retin a ge in london accutane online usa no prescription c ratioph uk brand name what does prograf do purchase l thyroxine online no prescription benicar brand positioning pharmacy has best price oxybutyninum where can i buy benicar online without a prescription medicamento zestril 10 mg femara online pharmacy uk xenical pharmacy direct clomifene online from canada la pharmacie middlesbrough opening times ordering alesse birth control what are the different types of pills called pharmacy mexico luvox lipitor pills sweat estradiol valerate on line no script generic zestril buy canada aspirin medicine side effects can i order sustiva what is the clomid challenge test buy brand dulcolax mometasona pills online in the canada can you only get kamagra gold on prescription buy pfizer viagra online acai palm trees for sale claravis uk buy buying astelin over the counter medicine that acts as arzomicin parietal lobe function definition viagra available in italy buy erexin online thru paypals buy alli online no prescription uk diflucan tablets used over the counter medicine promethazine luvox usa pharmacy buy ortho tri cyclen lo canada order trental from australia without prescription strong period pain pills isotretinoin reviews uk can you buy proventil over the counter erection packs 2 from buy deltasone 80 mg online buy generic propecia usa is it illegal to order generic keppra does generic propecia work claritin reditabs 10 mg dosage what is amoxil drugs buy viagra inhaler canada where to buy duphalac without a prescription buy avandamet 15mg online arzomicin for purchase without a prescription silagra 5mg tablets buy coumadin online from mexico keflex no prescription fedex ups ordering prometrium usa side effects of blood pressure medication in dogs buy antibiotics for uti online usa buy over the counter diarex online generic lantus in usa nexium prescription coupon lanoxin no prescription canada pozitivpszichologia best place buy sumycin beta val in croatia can we trust desyrel online who makes tricor medication how much does methotrexate cost the nhs order aloprim tablets get tinidazolum toronto where to buy speman online uk advair tablets price brand cialis buy mexico purchase aricept in india buy lamisilate tablets india cialis professional sale pharmacy generic where to buy lozol with echeck paypal to buy viagra order azitromicina online uk is viagra safe for diabetics buy meclizine tablets uk cialis user testimonials zyloprim drugs online purchases bijsluiter van sotalex triamterenum canada overnight delivery flexisyn with american express is it illegal to order generic decadron is there an over the counter clomid where to buy ditropan online canada purchase micronase on line in the uk ondansetron injection spc safe place order grifulvin v ampicillin 100mg tablet actoplus legal us cheap salbumol no prescription avodart otc online pharmacy uk pilex lipitor online india shallaki online usa what else is metformin used for besides diabetes comprar atarax online atorlip 20 uk brand name buy suprax mg online dutas cheap us pharmacy kroger pharmacy anderson phone number how to purchase benicar cheap aciphex europe pharmacy levlen online order antiflu des dosis keflex dose where to get saw palmetto in india meclizine medicine children domperidone order online canada compazine from usa india vs australia live score ball by ball the chepest seroquel orlistat lesofat biaxin pharmacies code where can i purchase provera discount glucotrol otc lidocaine ointment boots xenical pills use where can i buy glucofage exelon stock cost basis discount brafix of canada buy cafergot with a mastercard pfizer coupons for premarin best place buy l tryptophan buy baclofen capsules buy hong kong order generic deltasone buy prandin online safely zitromax fast india zovirax canada online purchase costco pharmacy erection packs 3 price motilium uses medication renova generic reviews top 10 drugstore shampoos how to buy tofranil in canada mexican pharmacy no prescription cytoxan metronidazole canada online no prescription is rumalaya gel legal in uk prograf 10 mg what is clincin drugs sarafem overnight pharmacy lasilix buy uk generic accutane online can you buy water pills walmart is zestril better than lisinopril what is avalide tinidazole brand positioning non prescription risperdal what is doxycycline medication used for best dutasterid prices cheap himcolin delivered overnight where can i purchase olistat comprar torsemide en argentina discount prandin otc canadian remeron tesco pharmacy viagra 2012 buy hyzaar using paypal augmentin cost rite aid fast obelit deleviery online mircette india canadian drug company alfa flucon can you really buy accutane online pharmacy that sells tegretol beconase aq australia can you order provera online
Home Media News Opening Statement: Stephen F. Ross on DirecTV Deal

Like Shoot to Thrill - An AC/DC Tribute on Facebook!

An authentic tribute of AC/DC that covers the best of the Bon Scott era and the best of Brian Johnson's material

Who's Online?

We have 505 guests online

Atom RSS

Opening Statement: Stephen F. Ross on DirecTV Deal PDF Print E-mail
User Rating: / 10
PoorBest 
Written by Stephen F. Ross   
Tuesday, 27 March 2007 04:32
RESTORING THE MARKET FOR OUT-OF-MARKET BASEBALL
Testimony of Professor Stephen F. Ross
Director, Penn State Institute for Sports Law, Policy and Research
The Pennsylvania State University
Before the
Senate Committee on Commerce, Science and Transportation
March 27, 2007
 
Mr. Chairman and Members of the Committee:
 
          It is an honor and privilege to be invited to join a panel of industry leaders to offer an independent view, based on over two decades of scholarship and teaching concerning sports and competition policy, in discussing the impediments to the free flow of interstate commerce as millions of Americans seek ways to take advantage of technological advances to watch non-local Major League Baseball games in their homes.
 
General Thoughts on Exclusive Dealing
 
          The issue before the Committee today is whether the exclusive dealing arrangement between Major League Baseball (MLB) and DirecTV, whereby DirecTV becomes the only source for out-of-market games not shown on national networks, is in the public interest.  As the Supreme Court has recognized,1 exclusive dealing arrangements are both legitimate and indeed can have pro-competitive effects.  In traditional markets where consumers have free access to retail markets, the Court has declared that, as a matter of antitrust law (in my view, this reasoning also applies to sound regulatory policy), these arrangements should only be questioned when there is a serious risk that they will foreclose access to supply or outlet by other firms.2  Thus, an agreement by Sears to exclusively sell Levi’s blue jeans is unlikely to harm consumers; there are ample other retail outlets for Levi’s rivals, and ample other jean manufacturers for Sears’ competitors.  If there are efficiencies in exclusivity, the likely market response is for Lee to reach an exclusive deal with Macy’s, etc.   Consumers unhappy with Sears’ selection are only harmed to the extent they have to walk across the shopping mall.
 
Harm to baseball fans
 
          In contrast, baseball fans face significant harm because of various pre-existing agreements as well as the recently announced exclusive MLB/DirecTV deal.   Those who have other reasons to prefer DishNetwork or cable must either forego quality telecasts of out-of-market baseball games,3 or suffer exploitation by subscribing to multiple multi-channel video distribution platforms that require the purchase of duplicate programming and unnecessary equipment.  The exclusive deal reinforces the harm that already befalls the millions of Americans who do not live within the local media market of their favorite team, because of a horizontal market division agreement entered into by MLB owners that, in the context of football, has been illegal for over 50 years.4  There is no public interest justification in forcing consumers to purchase a distribution platform that is inferior for their needs, or duplicate platforms, just to watch their favorite teams.  These consumers include:
 
  • Residents in areas with heavy thunderstorm activity (such as Florida) who prefer cable because of concerns about weather-related interference with important sports broadcasts
  • Residents of local markets (like metropolitan Philadelphia and southern New Jersey) who are fans of local basketball and hockey teams but out-of-market baseball teams, and would under planned agreements be required to subscribe to cable for some teams and satellite for others
  • Virtually all residents of states without a local team (like Alaska, Hawaii, or Nevada) or states with many retirees from other states (like Florida, California, or Arizona): there is no reason that the only way they can watch games of their favorite teams is to acquire a single product, MLB ExtraInningsTM,  from a single retailer, DirecTV
  • Consumers in multi-residence dwellings who are not allowed to select their preferred retailer, and where the landlord, homeowners’ association, or other decision-maker is insufficiently interested in baseball to switch to DirecTV
 
(Select Read More to see the rest of Ross' opening statement)
 
Restraints on Interstate Commerce: Horizontal Market Division
 
          To be clear, the agreement that sparked this hearing did not arise from the free market.  First, there is the horizontal market division by MLB owners.  Under the common law, the home team owns a property right in the radio and television rights to baseball games.5  However, the MLB owners have agreed to significant limitations on these common law rights.  Each club will only broadcast games in its assigned geographic territory, licensing the visiting club for the purpose of broadcasting games in its own home territory, and assigning to MLB the exclusive right to sell games not only to free-to-air networks (a right protected by the Sports Broadcasting Act) but most significantly the exclusive right to sell non-network games to satellite or cable only through MLB ExtraInningsTM (which is not exempt from antitrust scrutiny). 
 
          Were it not for this web of agreements, the MLB/DirecTV deal would raise few problems for consumers.  Those interested in the convenience of a single package of all out-of-market games could purchase ExtraInningsTM from DirecTV.  A Los Angeles Dodgers fan outside southern California, or someone who simply enjoyed the final years of play-by-play from hall-of-famer Vin Scully, would likely find it possible to purchase Dodger telecasts, acquired from the Dodgers by DirecTV, DishNetwork, or the local cable company.  Other intermediaries might offer a syndicate of games in competition with ExtraInningsTM.
 
          Antitrust precedents suggest that the MLB agreements are anti-competitive and ought to be illegal.  In United States v. National Football League,6 a very sophisticated district court decision that presaged by 30 years the antitrust analysis of broadcast restraints later adopted by the Supreme Court,7 the court noted that sports leagues had a unique interest in promoting competitive balance among member teams so that, to the extent that a rival team’s out-of-market telecast would significantly harm live attendance, the league could agree to prevent this.  However, the court rejected the NFL’s effort to bar out-of-market telecasts that simply competed with the home team’s telecast of road games: the only effect there was to limit output and raise rights fees for the home team, a result that was not legitimate or pro-competitive.  As later courts have recognized,8 leagues can adequately protect competitive balance with regard to television rights sales by revenue sharing, rather than output limits. 
 
          The courts have also recognized, in antitrust litigation, that broad licenses awarded by competing copyright holders through intermediaries can be pro-competitive, when these are non-exclusive licenses.  Thus, the Supreme Court rejected a lower court holding that Broadcast Music and ASCAP violated the Sherman Act by offering a blanket license for the vast majority of copyrighted songs.9 On remand, the court of appeals upheld the legality of the arrangement, but only after finding that potential licensees had real alternative ways of acquiring rights.10  This was because the Justice Department had challenged, many years ago, the agreement among almost all the nation’s songwriters to grant exclusive licenses to BMI or ASCAP – grants akin to the out-of-market assignments that individual team owners have made to DirecTV -- and the parties by consent decree had agreed to limit the license to a non-exclusive grant.11
 
          It is bad enough that these agreements meet the “hallmark” definition of unreasonable restraints of trade, by increasing price, reducing output, and rendering output unresponsive to consumer demand.12  In fact, these agreements are even more inefficient and anti-competitive than would be the case if all rights to all games were assigned to a single entity.  Because the additional costs of showing games to out-of-market fans is virtually zero, such an entity would likely sell, in addition to local rights and ExtraInningsTM, other packages to other consumers.  For example, there are surely many fans who would pay, on a per game or per team basis, for out-of-market games.  These are not authorized now, not because the sale would not be profitable, but because the MLB owners can not agree on how to divide the profits.13
 
Insufficient competition in multi-channel video distribution
 
          An analysis of the economics of rights sales for out-of-market games demonstrates that the current scheme would be implausible except for two additional deviations from the free market: (1) insufficient competition between DirecTV, DishNetwork, and cable permits excess profits from consumers of “basic premium” programming; (2) by tying the sale of ExtraInningsTM to its “Choice” package, DirecTV is able to increase its excess profits and the agreement in question reflects a sharing of those increased excess profits between DirecTV and Major League Baseball.
 
          Although there are important differences in the economics of English football and North American sports, on both sides of the Atlantic we see leagues that offer entertainment products with no reasonable substitutes selling broadcast rights to a major programmer in return for a large, fixed sum of money.  Policy questions about exclusive agreements for prime sports programming have also arisen in the United Kingdom, and have been insightfully analyzed in a working paper widely distributed among sports economists.14  Economists David Harbord and Marco Ottaviani detail the profit-maximizing strategy for the various market participants.  First, they note that leagues are likely to sell rights for a fixed rather than per-subscriber fee.  A fixed fee avoids the problem of the rights-purchaser tacking on its own excess profits charge to that imposed by the league.15  Because MLB doesn’t know precisely how many fans will subscribe to ExtraInningsTM, or how effectively DirecTV will market the product, it has an even greater incentive to sell for fixed fees, as the rights-purchaser is better able to accept the risk of marketing the product effectively during the course of the contract.  If the rights purchaser is effective in maximizing revenues from resale and advertising, results of which are usually reported in the trade press, the league can profit from the rights purchaser’s success to secure even higher rights fees for the next contract.  (For example, the NFL’s first network contract with CBS gave each owner $300,000/yr.  Three years later, the second contract gave each owner $1 million/yr.)
 
          Next, Harbord & Ottaviani explain why a rights-purchaser, having paid a lump-sum to obtain rights for which there was no substitute, would want to re-sell rights on a per-subscriber basis to its cable and satellite rivals.  Ordinarily, they observe, by re-selling to rivals, the rights purchaser increases the marginal operating costs for its rivals at the same time it fetches additional revenue.  This “makes reselling more profitable for the firm which acquires the rights, and hence more likely to occur.”16  Re-selling on a per-subscriber basis results in higher rights fees (because the league can capture a portion of the additional profit to be obtained from reselling on a per-subscriber basis) and maximizes output (more people subscribe).
 
          Applied to American baseball, Harbord & Ottaviani’s analysis suggests that DirecTV would find it profitable to resell ExtraInnings to cable networks and Dish Network, and that MLB would share in this profit through a higher lump-sum fee for the exclusive rights to out-of-market baseball games.  So why have DirecTV and MLB done the opposite?  We can infer from the parties’ preference for an exclusive deal that DirecTV is willing to forego this opportunity, and indeed pay MLB more than the total amount that MLB might reasonably expect to receive from sales of ExtraInnings through various retail outlets.  This is because DirecTV would prefer to force some out-of-market baseball fans to switch their patronage to DirecTV, rather than obtain all the revenue from out-of-market fans, regardless of which “retailer” these fans patronize.  DirecTV’s ability to obtain more revenue from those fans that remain with or switch to DirecTV than it could by charging the full monopoly price for ExtraInningsTM to all out-of-market fans is most likely due to their ability to obtain even greater super-competitive profits from those that switch.
 
     Suppose one million fans would be willing to subscribe to ExtraInningsTM at $160 per season, but that 200,000 of these will not patronize DirecTV (perhaps they fear thunderstorms, prefer programming available only on cable, can’t afford two systems in areas where local cable is unavailable, don’t have a clear south-facing view on their property, must use the system subscribed by the landlord, etc.).  That’s $32 million in lost revenue.  The exclusive deal means that DirecTV plans on making this up by obtaining new customers from cable or DishNetwork.  If 300,000 ExtraInnings customers switch to DirecTV’s Choice package (at $480/yr) + ExtraInningsTM, that’s an additional $144 million in revenue (from Choice, not MLB games, which these fans were already purchasing via cable or DishNetwork).  If DirecTV’s operational and programming costs in servicing the new customers was not well below $144 million, this scheme wouldn’t be profitable.  Only the excess profits on the Choice package – which baseball fans are required to purchase as a condition of subscribing to ExtraInningsTM, – is what allows DirecTV to profitably enter into an exclusive deal.
 
    One other explanation is theoretically possible – that there are huge cost-saving efficiencies from an exclusive dealing arrangement.  However, no one has, to date, seriously made this claim on behalf of MLB or DirecTV.
 
Summary of economic analysis

    The foregoing analysis suggests that the MLB/DirecTV exclusive deal reflects the ability of these sellers to exploit baseball fans because of the lack of any substitute products, and thus impose a monopoly price and significantly reduce output.  Out-of-market games will henceforth only be available on DirecTV, presumably at the monopoly price.  The absence of alternative means of obtaining out-of-market games means millions of consumers will pay more.  But it also means that output is substantially reduced, because of foregone purchases (all of which would be considerably above the marginal cost of production) from (i) expatriate fans of one particular team willing to pay a lower price to watch their favorite team but unwilling to pay for the ExtraInnings package; (ii) avid fans who have other preferential reasons to prefer to continue to subscribe to cable or Dish Network; (iii) marginal customers of satellite programming, who otherwise prefer DirecTV’s programming but decline to pay the “basic premium” price charged by DirecTV because it reflects in part the need to share profits with MLB.  This is bad public policy.
 
Ways that legislation can protect consumers
 
    There are a number of ways that existing or potential legislation could protect baseball fans against exploitation by inefficient and anti-competitive broadcast agreements:
 
  • Existing antitrust laws could be used to invalidate these unreasonable restraints of trade.
  • Specific antitrust legislation could be enacted to facilitate this result.
  • Regulatory legislation could minimize the excess profits that satellite and cable providers enjoy from their “basic premium” packages, or could directly prohibit the bundling essential to the exclusivity scheme by requiring “a la carte” pricing.
  • Strategic legislation could also be introduced by leading members of this committee as a means of facilitating voluntary pro-consumer compliance by industry.

Existing antitrust enforcement
 
    As detailed below, even vigorous enforcement of the antitrust laws by the Justice Department would face significant obstacles to quick resolution in time to protect sports fans.  Unfortunately, the record of the current Antitrust Division leadership does not lead to a confident prediction of such enforcement.  The obstacles to private litigation to effectively protect consumers are even greater.  For these reasons, reliance on existing law is unlikely to constitute an adequate public policy response by this Congress. 
 
    A government enforcement action should be able to rely on the precedents discussed above to establish that the horizontal restraint among MLB clubs is an unreasonable restraint of trade.  The exclusive broadcast territories are neither necessary to promote competitive balance among member teams nor to prevent any efficiency-deterring free riding. The only way in which a club’s sale of their games into another geographic market could harm competitive balance would be if the additional revenue generated from these out-of-market rights fees would enable the teams to acquire enough talent to enable them to dominate the league. This scenario is implausible for a number of reasons. There is no evidence that these fees would be significant enough to affect competitive balance. More important, there is no reason why the leagues could not share these revenues, as Major League Baseball has with teams whose games are carried nationwide via locally-based superstations.
 
    Nor can the leagues, in this context, sensibly claim that the restraint is an intra-firm restraint among the “single entity” of the league, rather than the horizontal agreement among independent clubs.  Because of the economics of rights sales, a single firm would sell all rights in all games that are going to be televised to the highest bidder, who could then re-sell the games to consumers in a price discriminating manner designed to yield the greatest revenue (noting again that the marginal costs of selling a game once it is being televised is virtually zero).  The ExtraInnings package is the only way that out-of-market fans can get games, not because this is DirecTV’s preference, but because it is the choice of the majority of MLB clubs.  DirecTV would clearly be better off if it could price discriminate by selling the ExtraInnings package to those with a demand for over 1,000 baseball games, and selling a smaller package of games (or even individual games on a pay-per-view basis) to its subscribers unwilling to pay for ExtraInnings.  Rather, individual games are unavailable to out-of-market fans, despite the potential for profitable sales, because transactions costs prevent owners from agreeing on how to divide the spoils.  As a result, the interest of the league-as-a-whole in maximizing revenues from television sales is subordinated to the interests of individual teams in protecting their own local broadcast rights and preventing rivals from attaining a competitive advantage from more successful out-of-market rights sales.  This is not the “unity of interest” that the Supreme Court has required to exclude agreements among formally separate entities from review under section 1 of the Sherman Act.17
 
    Existing precedents with regard to tying arrangements might also support a claim that DirecTV’s practice of bundling ExtraInningsTM with its $40/mo. Choice package is also unreasonable.  However, there are several serious obstacles to successful government prosecution of such a lawsuit.  First, MLB could claim that the judicially-created baseball exemption applies to broadcast restraints.  Although good arguments can be made that the exemption does not apply,18 the result is ultimately an uncertain question likely to require ultimate resolution, after years of litigation, by the Supreme Court.  Second, although DirecTV’s bundling practices would appear to be unreasonable under existing precedents,19these precedents have come under criticism by commentators20 and justices.21  Moreover, current regulation of cable and satellite practices by the FCC might be held to preclude antitrust scrutiny of this behavior. 
 
    Private enforcement is even more problematic.  The obstacles stated above pose major litigation risks that would deter private antitrust attorneys from commencing expensive litigation.  Because the proposed exclusive deal is prospective, treble damage relief (and accompanying attorneys fees funded by the damage award) would not be available for that aspect of the challenge.  My own experience as a public interest advocate has been that private firms are unlikely to view the grant of statutory attorneys fees provided for in the Clayton Act as a sufficient economic incentive to undertake the costs of uncertain litigation.  In addition, private litigation on behalf of consumers who currently patronize DirecTV would have to confront complex issues that would arise in light of the contract-by-adhesion DirecTV requires all customers that provides for disputes to be arbitrated.
 

New antitrust legislation
 
    This Committee could defer to your Judiciary Committee colleagues, who could consider specific legislation that amended the Sports Broadcasting Act to prohibit the sort of bundling or exclusive dealing practices identified in this testimony.  There is a long history of specific legislation enacted by Congress to outlaw specific anti-competitive practices: indeed, the Clayton Act was passed to specifically outlaw tying arrangements arguably illegal under the Sherman Act, over the objections of former President William Howard Taft, who left the White House to accepted a chaired professorship at Yale Law School and wrote a book arguing for the adequacy of the Sherman Act on this and other points.22
 
Regulatory legislation
 
    As Judge Richard Posner famously observed, a “firm that has no market power is unlikely to adopt policies that disserve its consumers; it cannot afford to. And if it blunders and does adopt such a policy, market retribution will be swift.”23  The corollary, of course, is that firms with market power can afford to disserve consumers and market retribution will not be swift. 
 
    Either expressly, or by delegation to the FCC, this Committee could craft legislation that recognizes that market retribution is not swift in either the market for out-of-market baseball games or the market for delivery of multi-channel video distribution.  A variety of regulatory approaches might be considered.  I would be pleased to continue to work with you and your staff if any of these are of particular interest:
 
  • Listed Events Legislation: A variety of other countries have enacted legislation that specifically requires a variety of important sporting events to remain on free-to-air television, for the benefit of millions of consumers.
  • “A La Carte” Pricing: Satellite and cable companies could be prohibited from requiring lengthy subscriptions to their “basic premium” packages as a condition of subscription to high-demand sport programming.  The analysis above suggests that DirecTV would quickly lose its incentive to pay MLB for exclusive rights if cable subscribers could, in a secondary market, acquire DirecTV equipment and then simply subscribe to ExtraInningsTM without having to pay $40/mo. for Choice.
  • Specifically Ban Sports Exclusivity: Unlike general delegations contained in the Sherman Act or the Federal Communications Act, Congress is free to write specific legislation to deal with specific industry problems.  Based on the economic analysis summarized above, the Committee could conclude that copyright holders and their licensees can fully exploit their intellectual property rights by sale and re-sale and there is no legitimate justification (sharing in excess profits from limited retail competition is not legitimate) for exclusive agreements in this area.24
 
Strategic behavior – by Major League Baseball and by the Senate Commerce Committee
 
    Both business and political actors often behave strategically – they act in a way that may or may not further immediate short-run goals in order to achieve long-run objectives.  Although MLB owners are rightly accused of being short-sighted and greedy in some instances, there are many other occasions where MLB owners have decided that the long-term health of the National Pastime is more important.  It is possible that this is one of those occasions: that MLB owners see a strong future in the development of The Baseball Channel, and the exclusive agreement with DirecTV is simply a negotiating strategy to persuade DishNetwork and cable companies to re-sell The Baseball Channel on favorable terms.
 
    If market retribution were swift among cable and satellite programmers, this would not be a problem.  If MLB’s demands were not unreasonable, then so many consumers would shift to DirecTV that rival MVPDs would have to go along.  If MLB’s demands were unreasonable, then DirecTV would lose so much money that it would eventually back out.  However, anyone inside the Beltway is familiar with the lack of swift retribution reflected in the lengthy negotiations that were required before millions of Capital-area baseball fans could obtain Washington Nationals local broadcasts on their stations.  The FCC has already recognized that market retribution is not swift in a number of non-sports contexts involving cable mergers, requiring programmers and distributors to either reach agreement on terms or submit their unresolved disputes to binding commercial arbitration.   
 
    There are a variety of situations where public policy may require government intervention, but where the best solution would be a voluntary agreement among private parties rather than direct legislation.  An excellent example of that technique was recently employed by this Committee, when under Senator McCain’s chairmanship there were explicit overtures to MLB owners and players to agree on new procedures for steroid testing or face federal legislative intervention.  The result was a voluntary deal that is probably superior to anything Congress could have done.25
 
    Likewise, if it appears that the best resolution of this controversy is voluntary agreement among MLB and the various programming distributors, perhaps this Committee could proceed strategically by threatening onerous legislation (barring collective sales of sports broadcasting rights to satellite and cable, mandating a la carte programming, authorizing FCC rate regulation of premium programming, etc.) unless the parties reach a voluntary agreement or agree to submit the matter to binding commercial arbitration.
 
Conclusion
 
    The MLB/DirecTV exclusive deal is not like a facially-similar contract between Sears and Levi’s.  Rather, the deal reflects (1) cartel behavior by MLB clubs in refusing to sell out-of-market rights to their games except via ExtraInningsTM on DirecTV and (2) a willingness of DirecTV to share the excess profits it enjoys from its Choice package with MLB.  Millions of baseball fans who no longer live near their favorite teams are harmed by their inability to watch their teams’ local broadcasts except via ExtraInningsTM, and harmed particularly by being forced to do so via DirecTV.  This Committee has a variety of arrows in its legislative quiver to protect consumers from this sort of exploitation.
 


RESTORING THE MARKET FOR OUT-OF-MARKET BASEBALL
Testimony of Professor Stephen F. Ross
Professor of Law, The Dickinson School of Law
Director, Penn State Institute for Sports Law, Policy and Research
The Pennsylvania State University
Before the
Senate Committee on Commerce, Science and Transportation
March 27, 2007
 
EXECUTIVE SUMMARY
 
1) Although exclusive dealing agreements with retailers whom consumers can access for free can often be pro-competitive, the MLB/DirecTV deal threatens to harm a wide variety of consumers
 
  • Fans who, for other reasons, are unable or unwilling to switch to DirecTV
  • Fans who would prefer to get out-of-market games other than the entire ExtraInningsTM package
 
2) The agreement exploits significant departures from the free market
 
  • MLB clubs agree to only telecast games in assigned territories, contrary to a 50-year old antitrust precedent
  • MVPDs face insufficient competition, allowing them excess profits for their basic premium service
 
3) Economic analysis shows that ordinarily, DirecTV would want to re-sell ExtraInnings to its cable and satellite rivals at a high per-subscriber charge; the exclusive deal reflects a sharing of additional excess profits DirecTV will obtain by forcing consumers to switch to its Choice or higher premium packages
 
4) Although the conduct is arguably illegal under the antitrust laws, a number of obstacles render litigation inadequate to protect consumers
 
5) Congress could, alternatively, consider:
 
  • Regulatory legislation to outlaw specific sports programming practices that harm consumers
  • Amendments to the Sports Broadcasting Act to specifically outlaw anti-consumer practices
  • “Strategic” legislation onerous to the industry that would facilitate voluntary compliance


1 Tampa Electric Co. v. Nashville Coal Co., 365 U.S. 320 (1961).
2 Id. at 334.
3 Standard antitrust analysis properly focuses on whether a product or service faces competition from “reasonable substitutes” that will draw consumers if there is a small but significant increase in price or decrease in quality of the good or service in question.  Courts have generally found that major sports are sufficiently unique in consumers’ hearts – baseball is, after all, the National Pastime – that a small increase in the price of watching a favorite baseball team will not send enough fans to the library or to cricket websites to render the move unprofitable.  See, e.g., National Collegiate Athletic Ass'n v. Board of Regents, 468 U.S. 85 (1984) (college football is a market distinct from professional football or other forms of entertainment); International Boxing Club v. United States, 358 U.S. 242 (1959) (championship boxing is a market distinct from non-championship boxing).
 
            Likewise, the issue here concerns quality telecasts to be displayed on television sets of increasing size and clarity.  Although some fans may prefer the convenience of watching webcasts of out-of-market games on their computers, or others are willing to endure the significant reduction in picture quality when subscribing to mlb.com, these webcasts are not the sort of reasonable substitutes for ExtraInningsTM that either antitrust doctrine or public policy ought require.
4 United States v. National Football League, 116 F.Supp. 319 (E.D. Pa. 1953).
5 See, e.g., Pittsburgh Athletic Co. v. KQV Broad. Co., 24 F. Supp. 490 (W.D. Pa. 1938).
6 116 F.Supp. 319 (E.D. Pa. 1953).
7 National Collegiate Athletic Ass’n v. Board of Regents, 468 U.S. 85 (1984).
8 Chicago Professional Sports Ltd. v. National Basketball Ass’n, 961 F.2d 667 (7th Cir. 1992).
9 Broadcast Music, Inc. v. Columbia Broadcasting System, Inc., 441 U.S. 1  (1979).
10 Columbia Broadcasting System, Inc. v. American Soc’y of Composers, Authors & Publishers, 620 F.2d 930 (2d Cir. 1980).
11 CBS v. Broadcast Music, 441 U.S. at 10-11, citing United States v. American Soc’y of Composers, Artists & Publishers, 1940-1943 Trade Cas. (CCH) ¶ 56,104 (S.D.N.Y. 1941).
12 NCAA, 468 U.S. at 107.
13 There are at least two recent examples of this phenomenon.  In 1992, the English Premier League, having agreed to show 60 of its 380 matches exclusively on the BSkyB satellite, rejected BSkyB’s offer to show 90 matches for a 50% increase in fees.  At about the same time, the National Basketball Association succeeded in strictly limiting the very popular broadcasts of the Chicago Bulls featuring Michael Jordan, despite evidence that Bulls’ broadcasts had minimal effects in other markets, refusing to copy MLB’s practice of taxing superstation revenue.
14 David Harbord & Marco Ottaviani, “Contracts and Competition in the Pay-TV Market,” London Bus. School Dep’t of Economics Working Paper No. DP 2001/5, available at http://papers.ssrn.com/sol3/papers.cfm?abstract_id=289334. 
15 This phenomenon is known to economists as “double marginalization.”  Suppose the profit-maximizing price for ExtraInningsTM is $160/year.  (Any increase in price reduces demand, unless a product is essential to life.  Thus, raising the price from $150 to $160 will cause some marginal consumers to discontinue patronage, but if the number is small enough, the increase is profitable.  If 100 consumers refuse to go along with the increase, this would cost MLB/DirecTV $15,000.  But if a 10,000 consumers are willing to pay $160, this is an additional $100,000.  At some point, the number of consumers discontinuing purchases outweighs the additional income, just short of that point is the profit-maximizing price.)  If MLB sold rights on a per-subscriber basis, they would want to fix the price at $160 minus DirecTV’s costs.   If these costs were $5/subscriber, MLB would set the rights sale at $155.  However, this would leave DirecTV with no excess profits.  DirecTV would rather get some excess profits, even at the expense of losing some customers.  So DirecTV would be likely to charge $170 or more, costing MLB some customers and some profit.  These problems are avoided by a lump-sum sale.
16 Harbord & Ottaviani, supra, at 8.    To the extent that there are strategic gains from raising rivals’ cost, the incentive to re-sell is even stronger. 
17 Copperweld Corp. v. Independence Tube Corp., 467 U.S. 752, 771 (1984).
18
 When the Supreme Court last revisited the issue in Flood v. Kuhn, 407 U.S. 258 (1972), the Court explicitly rejected its original holding that baseball was not interstate commerce, instead re-affirming the exemption because of baseball’s “unique characteristics and needs” and Congress’ “positive inaction” in sustaining the judicial precedents.  It is clear that baseball has no unique characteristics and needs with regard to broadcasting, a fact Congress recognized by including baseball as a sport covered by the limited exemption for package sales to free-to-air networks contained in the Sports Broadcasting Act.  Congress’ positive inaction with regard to the baseball exemption, upon which Justice Blackmun relied in Flood, related almost entirely to labor restraints.  When Congress overturned that specific aspect of Flood in enacting the Curt Flood Act of 1995, it is clear that continuing legislative concern almost entirely related to protecting the unique characteristics and needs of minor league baseball, not broadcasting practices that MLB shares in common with the NBA and the NHL. 
 
            In addition, lower courts have suggested that the exemption applies only to the “business of baseball” and not to the “business of broadcasting.”  Henderson Broad. Corp. v. Houston Sports Ass'n, 541 F. Supp. 263 (S.D. Tex. 1982).  Especially in light of courts’ explicit recognition that MLB can lawfully require clubs to share revenues from rights sales, Chicago Professional Sports Ltd. Partnership, supra, 961 F.2d at 675, there is no reason why subjecting television agreements to standard antitrust analysis would compromise “the business of baseball.”
19 The current Supreme Court doctrine is expressed in Jefferson Parish Hospital Dist. No. 2 v. Hyde, 466 U.S. 2 (1984).  Firms engaged in a substantial amount of interstate commerce may not force consumers to purchase a product, service, or copyright license as a condition of purchasing a more desired license, where the seller has “market power,” the arrangement requires the purchase of two “separate products,” and the tying is not necessary to introduce a new product or to ensure the reliable use of either.  Applying this precedent, it is clear that DirecTV has market power in the sale of ExtraInningsTM, as there are no reasonable substitutes for out-of-market MLB games.  Forcing purchasers of ExtraInningsTM to purchase the Choice package constitutes a tied sale, because there is distinct and separate consumer demand for both products.  Finally, a there is no need to tie well-established programs in the Choice package with uniquely desirable MLB games in order to penetrate a market, and there are no reliability issues in subscribing to one or the other. 
20 See, e.g., Robert Bork, The Antitrust Paradox 365-381 (1978).
21 See, e.g., Eastman Kodak Co. v. Image Tech. Servs., 504 U.S. 451, 487 (Scalia, J., dissenting); Hyde, 466 U.S. at 32 (O’Connor, J., concurring).
22
 William Howard Taft, The Anti-Trust Act and the Supreme Court (1914).
23 Valley Liquors, Inc. v. Renfield Importers, Ltd., 678 F.2d 742, 745 (7th Cir. 1982).
24 This legislation would also prevent cable companies from aggressively competing in a consumer-harming way by acquiring their own exclusive sports programming rights and refusing to re-sell to satellite outlets.
 
            Another example, of perhaps little interest to most Americans but of keen interest to millions, especially recent immigrants from south Asia or the United Kingdom, concerns the rights to satellite broadcasting of international cricket matches.  Thus, DishNetwork obtained exclusive rights for the International Cricket Council’s World Cup contests currently being played in the West Indies, while DirecTV obtained exclusive rights to a large number of international contests throughout the year.  Devoted cricket fans need to either subscribe to both or forego the ability to watch these matches in their homes.
25 The substance of the agreement, and whether the agreement or proposed legislation accurately reflects the public interest in an appropriate balance between protecting (i) players’ health, (ii) the integrity of the game from health-harming, performance-enhancing behavior, and (iii) privacy rights, is of course beyond the scope of this testimony as well as my scholarly expertise.
 
 
Banner

Poll

Should MLB Force Jeffery Loria to Sell the Marlins?