This is a convoluted question, but I'd be interested to hear any thoughts you have off the dome. 1) I understand that the corporate news media are fully captured by capitalist interests and the national security state. Major news outlets are not going to call for de-militarizing the globe, overthrowing the system, and redistributing the wealth. 2) Meanwhile, political scientist and inveterate pessimist Jodi Dean argues that politics happens on two registers: The first is merely a circulation of discourse and communication that creates the illusion of participatory democracy. (In her mind, we would all be stuck on this level, posting and browsing twitter, etc.). The second is the actual policy that the US government follows, which doesn't give a damn about what people in the first register say. One of her examples is the largest antiwar protest ever amassed (in the lead up to the 2003 Iraq War), which had zero impact on Bush's actions. Given all this: Would you say that the news media don't have the capacity to destroy powerful people's careers and change anything for the better? One, because they're in thrall to capital and the power elite, and two, because they're outside the register of official politics anyway? And if this is the case, do powerful individuals simply know all this, never fearing consequences from bad press? (I guess that would be class consciousness at work).
Honestly, I think wealthy people fear almost everything on some level. Wealth is like the ultimate security blanket and taking that away means taking away the only thing that can keep them safe and insulated.
I think they are afraid of media that is not bought by them or people who share their interests.
I know some prefer the CNN version or the Fox News version, and some pay for both. I think that by consolidating power over media outlets is fueled by a fear that those platforms can cause them material harm. I think that's why the culture war bullshit is such a thing.
It's a distraction in part, but if they lose it and the m&ms get they/them pronouns or the little mermaid is black then it takes a sense of ownership away from those who own those franchises.
I think wealthy people are afraid of news media or information circulating that they don't like. See the reaction to the billionaire submarine. Or the censorship around the location of private jets.