new york city is also an important place for the advertising, music, newspaper, digital media, and publishing industries, and it is the biggest media market in north america. some of the city's media conglomerates and companies include time warner, the thomson reuters corporation, the associated press, bloomberg l.p., the news corporation, the new york times company, nbcuniversal, the hearst corporation, aol, and viacom. seven of the world's top eight global advertising agency networks have their headquarters in new york. two of the top three record labels' headquarters are in new york: sony music entertainment and warner music group. universal music group also has offices in new york.