This is one of several papers presented at a Federal Trade Commission Symposium on Media Concentration. It analyzes trends in the development of one-newspaper cities. Some of the trends noted are that face-to-face competition has declined considerably over the last five decades, going from 90% of the circulation in 1923 to 30% of the circulation in 1973; average daily circulation per firm has grown from about 15,000 to 40,000 during this period; and large cities are more likely to have directly competitive newspapers than are small cities. Questions of why direct newspaper competition has declined so dramatically over time, why competition is less common or practically nonexistent in smaller towns, and whether past trends are likely to continue into the future are considered. Differentiated products, market segmentation, and economies of scale are discussed as they relate to these trends. The interrelatedness of advertising and subscription markets is also considered. (MKM)