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None of it was made up. All the basic channels like ABC, CBS, NBC, and Fox are owned by huge corporations. These are facts that are very easy to verify, and are pretty well known amongst people who care about it. Just think of how easy it is for a company like GE to make NBC help form the public`s view on a cause like... let`s sayyy a war. So, a lot of people think it`s a good idea, and support the government in starting one. And so once a war starts, guess who reaps the benefits? GE, who has many arms, ammunition, and plane-making companies.
It`s funny that they call it a `theory`, because it`s a highly-practiced occurence in politics and business.