This study examined the relationship between chain ownership and editorial role perceptions to illuminate the impact of chain ownership on content. Based on 258 questionnaires returned by a nation-wide sample of daily newspaper editors, the study found the editors of chain-owned newspapers to be more likely than their independent counterparts to subscribe to activist role perceptions. The tendency toward activist values increased as the size of the chain increased. Further, in general, editors of larger news organizations tended to subscribe to activist values more than did editors in smaller organizations.