There are a few major media corporations that own many of the news channels in the United States. According to a 2021 report by the media watchdog group Free Press, the following six corporations own most of the major media outlets in the country:
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Comcast (owns NBCUniversal, which includes NBC News, MSNBC, and CNBC)
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AT&T (owns WarnerMedia, which includes CNN, HBO, and the Turner Broadcasting System)
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ViacomCBS (owns CBS News, Showtime, and various other cable networks)
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News Corp (owns Fox News, the Wall Street Journal, and other media properties)
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Walt Disney (owns ABC News, ESPN, and other media properties)
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Sinclair Broadcast Group (owns or operates more than 200 local TV stations in the US)
It's worth noting that there are still some independent news outlets and smaller media companies that are not owned by these larger corporations.
However, these six companies do control a significant portion of the news media landscape in the US.
You only have the perception of choice.
I've been sounding the alarm on media consolidation going back to the Turner/AOL Time Warner merger...I'm noticing similar patterns in "alternative" media, as well...
It’s not just about ownership, it’s about control. You can control a company with less than 20% of the shares. Certain classes of shares have different voting privileges. Also you don’t even have to own the shares, you can be a hedge fund that controls the shares on behalf of your clients, and utilize their votes to advance your agenda.