From what I remember from the Gentzkow/Shapiro work on media bias, media owners isn't really the source of bias. Paraphrasing, it turns out the bias comes from.

From what I remember from the Gentzkow/Shapiro work on media bias, media owners isn't really the source of bias. Paraphrasing, it turns out the bias comes from... the readers, who want a paper where they can read what pleases them.