In response to a FOIA request filed by TheBlaze, HHS revealed that it purchased advertising from major news networks including ABC, CBS, and NBC, as well as cable TV news stations Fox News, CNN, and MSNBC, legacy media publications including the New York Post, the Los Angeles Times, and the Washington Post, digital media companies like BuzzFeed News and Newsmax, and hundreds of local newspapers and TV stations. These outlets were collectively responsible for publishing countless articles and video segments regarding the vaccine that were nearly uniformly positive about the vaccine in terms of both its efficacy and safety.
Notice this includes conservative outlets.
All cable news is compromised. It's all propaganda.
https://en.m.wikipedia.org/wiki/National_Defense_Authorization_Act_for_Fiscal_Year_2013#Smith%E2%80%93Mundt_Modernization_Act_of_2012
That had nothing to do with private media companies.
They're all propoganda but that act isn't the reason why.