Introduction: The Invisible Hand Over the News
In America today, more than 90% of the media is owned by just a handful of mega‑corporations. Behind the screens of local newspapers, TV stations, and even streaming platforms, a powerful few drive which stories flourish—or fade. Our podcast, “Who Owns the News? Who Owns the Narrative?” explores how these ownership patterns shape public discourse, often without our awareness.
1. Media Ownership: Who Really Holds the Keys?
A Media Oligopoly in Numbers
In the early 1980s, about 50 companies dominated U.S. media. Now, six corporations control 90% of it: AT&T, CBS, Comcast, Disney, News Corp, and Viacom (now Paramount Global).
A late 2024 Deseret Magazine estimate reiterated that just six mega-owners control 90% of all media, primarily every major news brand across TV and newspapers.
Comcast‑NBCUniversal, Disney, Warner Bros. Discovery, and Paramount are the most prominent players in revenue terms.
What It Means to Control Local News
If the proposed merger with Tegna goes through, Nexstar Media Group is poised to own 265 TV stations across 44 states, reaching 80% of U.S. households—double the current FCC limit of 39%.
Sinclair Broadcast Group has legally mandated “must-run” segments across its stations, pushing consistent conservative messages. Studies reveal these segments skew coverage and reduce local investigative reporting.
2. The Consequences: Why Ownership Matters
Echoes, Not Voices
When six corporations control nearly all narratives, stories that deviate from their interests struggle to reach the public. Editorial diversity dwindles. As one analyst summed it up:
“It has been said that one is never fired from big media for lying — only for telling the truth.”
In a concentrated media landscape, truth becomes a risk, not a virtue.
The Disappearing Free Press
Since the 1980s, regulatory rollback—including the 1996 Telecommunications Act—has enabled oligopolies to flourish, eroding the independence of local newsrooms.
In recent years, over 15,000 media jobs have been lost. ABC layoffs, the shuttering of independent outlets, and the dominance of corporate-controlled narratives have left Americans starved for trustworthy journalism.
Digital Reality, Corporate Ownership
Media oversight remains critical as tech platforms and ad networks inadvertently subsidize misinformation. For instance, Google and IndexExchange appear on over 40% of fake news sites, even unwittingly fueling the spread of false narratives.
3. Underreported Angles That Matter
Public Media Under Attack
In 2025, the Trump administration targeted public broadcasters like NPR and PBS, framing them as biased and signaling intent to reduce federal funding dramatically. Critics warned that this threatened journalism, especially in communities with few alternatives, but the policy risks remain poorly covered by major outlets.
Trade-Offs: Cost vs. Coverage
Supporters of Nexstar’s push for consolidation and deregulation are presenting it as compensation against tech giants. But critics—including journalism unions—warn it would cripple local news, raise viewer fees, and reduce editorial diversity.
4. Why This Still Matters
A Pew Research study shows that 86% of U.S. adults get news online, with 33% relying on TV frequently and only 26% turning to print. Communication channels are much more vulnerable to corporate steering, and key story framing increasingly depends on just a handful of owners.
The loss of shared reality is not just alarmism. Research shows that broadcast news once provided common ground; cable fragmentation has fractured public understanding, making it harder for a democratic consensus to emerge.
5. Solutions: Rebuilding Trust and Diversity in News
Regulatory Reforms and Local Support
Media advocacy groups—including unions and civil-rights coalitions—oppose the FCC’s move to loosen ownership caps. They warn that deregulation undermines diverse local coverage and drives out independent voices.
Congress still holds the power to safeguard media diversity and must resist erosion of access and fairness.
Rise of Independent News
Nonprofit newsrooms like the Center for Public Integrity and the Marshall Project and platforms like Substack offer alternatives free from corporate interference. Though still small-scale, they produce high-impact investigative journalism that corporate outlets increasingly ignore.
Civic Engagement and Reader Support
The survival of independent and trustworthy journalism depends on engaged readers—through subscriptions, donations, or active readership. Readers are the bottom-line justification for independent reporting that holds power to account.
Conclusion: Understanding Ownership Is Key to Truth
Who owns the news—quite literally—matters. When narrative power is centralized, truth becomes fragile beneath corporate interests and political alignment. As we unpack in “Who Owns the News? Who Owns the Narrative?”, media ownership shapes what stories you hear and how democracy hears them.
To retain a free and effective press, we need diverse ownership, robust funding for independent outlets, and an informed public that demands transparency and accountability from the narratives that shape its world.
