A primetime speech from President Donald Trump has put media companies in the spotlight, as those who chose not to air the speech could soon be targeted.

Here's a look at who kept the president happy and what companies are now under pressure.

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Trump's Primetime Speech

On Thursday, Trump hosted a primetime speech that featured unverified accusations of voter interference during the 2018 and 2020 elections. The accusations included claiming that China illegally interfered, a claim that has not been verified.

Due to the nature of the fraud claims—echoing past unverified claims by the president—some media stations decided to pass on airing the speech.

Of the broadcast networks, FOX and CBS broadcast at least part of the speech, while NBC and ABC passed on airing any of the speech live, as reported by Politico.

NBC, which is owned by Comcast Corporation (CMCSA), and ABC, which is owned by Walt Disney Co (DIS), were called out during the speech directly by the president.

"In a rare move, NBC and ABC fake news have both said that they would not cover this speech. They knew what it was about," Trump said. "Fraud like this should mean a revocation of their licenses."

NBC and ABC both covered the speech on streaming channels.

What Happens Next?

Media outlets are not required to air primetime speeches from the president. While speeches are traditionally covered, past speeches have sometimes been skipped.

A 2022 primetime speech from President Joe Biden titled "Battle for the Soul of the Nation" was not aired live on NBC or ABC. A 2014 speech from President Barack Obama was not aired by ABC, NBC or CBS.

While they are not required to cover the speech, Trump and the White House administration could look for ways to punish Comcast and Disney.

CBS, which chose to air the speech, may have done so with Paramount Skydance (PSKY) currently trying to acquire Warner Bros. Discovery. The company, which counts Trump allies David and Larry Ellison as key investors, has already received the backing of the Department of Justice on the deal.

The Federal Communications Commission has limited authority to revoke broadcast licenses. The FCC is led by Trump ally Brendan Carr, who has previously targeted companies that don't air enough pro-Trump content.

Disney is the subject of a current investigation by the FCC with accusations that "The View" didn't provide political parties with equal airtime. The media company could lose its licenses to eight company-owned stations.

Comcast and Disney are unlikely to lose their main broadcast license over not airing the speech, but now have to tread carefully. The companies could see pressure if they try to make acquisitions or complete other activities that would need the blessing of the White House administration over the next two years.

Media stations walk a fine line of caving into the president and airing what he wants, such as Thursday's primetime speech, and facing future pressure on moves made.