You're right Disney doesn't own own Fox News but BlackRock, State Street, and the Vanguard Group are significant institutional shareholders in Fox Corporation, the parent company of Fox News Media. At this point you should realize my question isn't naive or "stupid".
> BlackRock, State Street, and the Vanguard Group are significant institutional shareholders in Fox Corporation
How much control do they have? Have you heard of the Murdochs?
> At this point you should realize my question isn't naive or "stupid"
If you said television media, it would have still been wrong, but not stupid. (Because it depends on understanding how voting control and passive vs active investing works, none of which is common knowledge.) Generalising to all media, most of which isn’t publicly owned, is.
