The media argument is something that can really go on forever, the way I relate to (or watch) the media is in a Chomskyian view...basically worthy and unworthy victims (Based off his book Manufacturing Consent) which is really interesting and hard to explain...but to give you an example of who really does own the media check this site out..and please people don't be yelling how its a leftist site, it's telling you the freaking truth and thats what matters.
http://www.freepress.net/content/ownership