Well, in number of units anyway. WSJ has the worldwide tally at the end of last year:
--Subway: 33,749
--McDonald's: 32,737
Keep in mind that McDonald's is still tops when it comes to sales (the chain reported $24 billion in revenue last year). Also remember that Subway stores are often smaller and easier to operate. As for L.A. County, Subway has been first in the number of units for several years, according to a 2009 Business Journal list. In fact, Starbucks was second, followed by McDonald's.

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   Mark Lacter created the LA Biz Observed blog in 2006. He posted 
until the day before his death on Nov. 13, 2013.
Mark Lacter created the LA Biz Observed blog in 2006. He posted 
until the day before his death on Nov. 13, 2013.