The object of the study analysis is the media presentation of Islamic State (ISIS), radical Sunni extremist group that according to the public and experts’ opinion, at the time presented one of the greatest threats to global security. Attracting the public attention with the brutality of its activities, the Islamic state has been chosen as the object of the paper, as the reporting on their activities could be used to test the thesis that media ownership structure affects media editorial policy, in this case using the examples of 3 TV channels in Serbia: N1, RTS1 and Al Jazeera Balkans. The paper shows and explicates the results of the comparative, quantitative and qualitative discourse analysis on the reporting about Islamic State in central news programs of Serbian Broadcasting Corporation (RTS1) and two news channels, N1 and Al Jazeera Balkans. The starting point is the Van Dijk’s definition of discourse as the reflection of the ideology of entities involved in its production, while the purpose was to find similarities and differences in the presentation and interpretation of the phenomenon in three analyzed media through a comparative analysis of reporting on the Islamic state, and attempt to discover the ideological background of the media, infiltrated in the information through usage of various discursive techniques.