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Like most conspiracy theories, there is a huge grain of truth there. Bush should have done 9/11 because it benefitted him in literally every way. Yet he did not.
Today's WaPo scandal illustrates the more real situation quite well: usually the billionaires take a mostly hands-off approach to owning a paper. They don't need to meddle. The journalists are ontologically incapable of being truly disruptive regardless of if the paper is owned by Bezos or funded by an independent government committee. That Bezos presumably felt the need to prevent the WaPo from endorsing Harris was unusual and a big enough deal for the journalists to raise a big stink. And as someone who lives in a country that has a strong tradition of independent and state-funded journalism (that doesn't shy away from criticizing the government)... I can tell you it's not very different from the rest. Certainly not as left-wing as it gets, and just as vulnerable to the fallacies I described.
That is not to say there is no outright corruption of big prestigious papers, or that oligarchs owning the press isn't a massive, glaring threat to Democracy. But beware of oversimplifying such issues. For one because you might regret making such sweeping statements when the billionaires actually decide to wield their power, Murdoch style. And for two because you might be disappointed to find that prestigious independently owned papers aren't so much better. Don't expect them to start printing Marxist pamphlets any time soon if that's what you are into.
No, we are not talking about Marxist. In fact I said fascists which you keep stesteering away from. Who pays you toispread propaganda?