The media industry is increasingly becoming dominated by bigger but fewer number of media giants. The integration between news and entertainment sectors has drawn much criticism. Systematic research related to the impact of such conglomeration on news content, however, is minimal. This thesis fills the gap by investigating the presence of bias in the news content toward diverse corporations owned by its parent company. The study focused on two topics: Time 's coverage of America Online, and the film reviews published by Time and Newsweek . The research design incorporated both quantitative (content analysis) and qualitative (textual analysis) methods. The content of Time --a flagship media outlet of AOL Time Warner--and Newsweek --owned by a smaller media corporation--were compared. The statistical results revealed Time 's favorable bias in its reviews of films owned by its parent company. Newsweek did not show such favoritism. The analysis of texts illustrated various frames and rhetorical devices used by Time to promote its own films. Time 's Internet related articles published after the merger, on the other hand, did not show significant differences when compared to those published prior to the merger. A close examination of the texts, however, revealed the different portrayal of the merger by two magazines. The study illustrates increasing hyper-commercialism in corporate media and thus may be used to encourage the public debate on the issue of media concentration.