Largest News Media Companies by Revenue
The global news media industry is dominated by a small number of conglomerates that own newspapers, television networks, radio stations, and digital platforms. As of the most recent public financial reports, Comcast, The Walt Disney Company, and Warner Bros. Discovery rank among the top media owners by revenue. These companies operate major news divisions including NBC News, ABC News, CNN, and HBO, reaching hundreds of millions of viewers daily. Their combined revenues often exceed hundreds of billions of dollars when including all business segments such as streaming, theme parks, and telecommunications. For a detailed breakdown of the largest media companies, see this Forbes overview of the biggest media companies in the world Forbes.
In the United States, the top five media companies by revenue typically include Comcast, The Walt Disney Company, Warner Bros. Discovery, Fox Corporation, and Paramount Global. Each of these companies owns multiple news outlets spanning broadcast television, cable channels, streaming services, and digital media. The concentration of ownership means a small number of corporate entities control a significant share of the news consumers encounter. This structure influences which stories receive coverage and how they are framed. Regulatory bodies such as the U.S. Federal Communications Commission monitor media ownership rules to prevent excessive concentration FCC.
Major Corporate Owners and Their Media Portfolios
Comcast, led by CEO Michael Cavanagh as of 2024, owns NBCUniversal, which includes NBC News, MSNBC, CNBC, and a portfolio of local television stations. The company's media division operates across broadcast, cable, and streaming through platforms like Peacock. Comcast's total revenue for recent fiscal years has exceeded 120 billion dollars, with the media and entertainment segment contributing a substantial portion. The company also owns significant stakes in streaming and film production through its Universal Pictures and DreamWorks Animation units.
The Walt Disney Company, under CEO Bob Iger, owns ABC News, ESPN, and a majority stake in Hulu. Disney's media networks segment includes national television channels, radio stations, and digital media properties. The company's total revenue for recent fiscal years has surpassed 80 billion dollars, driven by a combination of media networks, parks, and direct-to-consumer streaming. Disney also operates a global network of news bureaus and produces content for its streaming service Disney+.
Warner Bros. Discovery and Other Major Players
Warner Bros. Discovery, led by CEO David Zaslav, owns CNN, HBO, and a portfolio of cable networks including TNT and TBS. The company was formed from the merger of WarnerMedia and Discovery, Inc., combining major news, entertainment, and sports properties. Its global reach includes news operations in multiple countries and a significant digital presence through streaming platforms like Max. The company's revenue structure reflects a shift from traditional cable subscriptions to advertising and streaming services.
Fox Corporation and Paramount Global
Fox Corporation, controlled by the Murdoch family through Fox Corporation, owns Fox News, Fox Business, and Fox Sports. The company operates a network of cable channels and a major broadcast television station group. Its news division is one of the highest-rated cable news networks in the United States. The Murdochs also maintain significant influence through their ownership stakes in other media properties globally.
Paramount Global, led by CEO Bob Bakish as of 2024, owns CBS News, MTV, Nickelodeon, and a majority stake in Paramount+. The company's media portfolio includes broadcast television, cable networks, and streaming services. Paramount Global's news operations reach audiences through television and digital platforms, with CBS News being one of the oldest and most recognized news brands in the United States.