This is not a conspiracy theory. We do not belive there is a secret force controlling mainstream media reporting, intent on bending the truth one way or another. There are very good reasons why the media is as it is. It costs a fortune own a newspaper or TV company. Anybody who does so, like Tony O'Reilly, Rupert Murdoch or Conrad Black, is a millionaire.
Media moguls are in the same league as the rest of the rich.
They hang pout in the same clubs, they buy racehorses from each other and, more importantly, they have similar economic interests. They all want a stable economy, friendly to capitalists like themselves. They support each other in trying to lower their employees' wages and breaking strikes. They all want to see lower public spending on services like health, and more tax breaks for the rich. While it is true that they complete with each other for audiences and advertising, it is also true that they have far more in common with each other than with the rest of us.