4 million homes watch the evening news on CBS, ABC, and NBC.
( ( ( 4 million ) homes ) ( ( watch ( ( the ( evening news ) ) ( on ( CBS ( , ( ABC ( , ( and NBC ) ) ) ) ) ) ) ) . ) )
(ROOT (S (NP (QP (CD 4) (CD million)) (NNS homes)) (VP (VBP watch) (NP (NP (DT the) (NN evening) (NN news)) (PP (IN on) (NP (NNP CBS) (, ,) (NNP ABC) (, ,) (CC and) (NNP NBC))))) (. .)))
CBS, ABC and NBC are the leaders in news. 
( ( CBS ( , ( ( ABC and ) NBC ) ) ) ( ( are ( ( the leaders ) ( in news ) ) ) . ) )
(ROOT (S (NP (NNP CBS) (, ,) (NNP ABC) (CC and) (NNP NBC)) (VP (VBP are) (NP (NP (DT the) (NNS leaders)) (PP (IN in) (NP (NN news))))) (. .)))