This would be especially difficult here, because value is likely to vary wildly from one exchange
to another, depending on the extent to which publishers’ content is replicated on the platform, the extent of the platform’s reach, the extent to which advertising revenue is shared, and so on.
A second difficulty was that publishers could find
it hard to reach an agreed position, or if the larger ones succeeded in improving their own position, they might benefit at the expense of smaller ones whose interests are likely to be different.