My more plausible version is that CEOs of journalistic publications are in cahoots with the rich/powerful/govt people, who get to dictate the tone of said publi

My more plausible version is that CEOs of journalistic publications are in cahoots with the rich/powerful/govt people, who get to dictate the tone of said publications by hiring the right journalists/editors and giving them the right incentives. So as a journalist you might have freedom to write your articles, but your editor (as instructed by his/her senior editor) might try to steer you about writing in the correct tone. This is how 'Starship test flight makes history as it clears multiple milestones' becomes 'Musk rocket explodes during test'