I'm going to assume here that your photos and videos tables contain more than 1 record per business, a "one to many" relationship.
In this case you're going to need to rethink your approach or at least do some formatting of your database results. Currently if Joes crab shack has more than 1 videos and/or photos you're going to have multiple results for Joes crab shack.
If you need photos/videos results you could format the results as you are receiving them now to create a multi dimensional array/object where $featured['videos']
or $featured['photos]
would contain the results of your join, if your formatted array doesn't contain the 'videos' key then you have no video results.
If all you need to know is if it's returning more than 0 rows then create two new methods in your model to count videos and photos that belong to a specific business. Now it's just a matter of echo'ing 'Yes' if the methods return more than 0 rows or 'No' otherwise.
Edit: Model function should look something like this
function frontPageList() {
$this->db->select('b.busname, b.busowner, b.webaddress');
$this->db->select('(SELECT COUNT(1) FROM photos WHERE busid = b.id) AS photo_count', FALSE);
$this->db->select('(SELECT COUNT(1) FROM videos WHERE busid = b.id) AS video_count', FALSE);
$this->db->from ('business AS b');
$this->db->where('featured', '1');
return $this->db->get();
}