This study investigated the small-group, learner-led discussion process in synchronous discussions. Transcripts from online chats and face-to-face discussions were analyzed within the context of the Community of Inquiry framework to examine the relationship of teaching presence, social presence, and cognitive presence to one another and for evidence of changes in frequency of teaching, social, and cognitive presence over time. Findings suggest that social presence and cognitive presence are highly positively correlated and that teaching presence and social presence are moderately positively correlated in learner-led synchronous environments. The frequency of teaching, social, and cognitive presence did not change over time for either group. Findings also indicate that neither the group meeting online nor the group meeting face-to-face attained high levels of cognitive presence integration or resolution. (Contains 3 tables.)