A conglomerate, by definition, is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate entity. In other words, it’s a large company (usually publicly traded) that owns several smaller companies that function in different businesses. A media conglomerate is a large company that owns several companies that provide products/services in – you guessed it – the media industry. Media includes tv networks, movie studios, theme parks, online digital companies, news papers, record labels, publishing companies, magazines and radio stations. For example, News Corporation owns 20th Century Fox Movies Studios, Fox TV Network, Fox TV Studios, New York Post, Wall Street Journal, Harper Collins Publishing and dozens of more companies. Media conglomerates are basically massive vertically integrated that control the entertainment industry. The five major media conglomerates are News Corporation, Walt Disney Company, Comcast, Viacom and Time Warner. Other major media conglomerates include CBS Corporation, A&E Networks and Discovery Networks.