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Rather than control the media directly, modern autocrats increasingly exert indirect influence over private news outlets using their allies in the business world. How does this new method of media capture affect the credibility and appeal of propaganda outlets? In two surveys conducted in Tanzania, I find that respondents are less likely to recognize bias in captured private outlets than directly state-run outlets. I then present experimental evidence from Tanzania demonstrating that such misperceptions affect citizens' media preferences. Regime opponents become more likely to consume captured media sources if they believe them to be privately-owned rather than state-run, while regime supporters become less likely. Once exposed to news from a captured private station, respondents update positively about the ruling party regardless of their ideological priors. The results suggest that private media capture allows autocrats to reach and persuade skeptical audiences that might otherwise avoid propaganda; however, this strategy may come at the cost of alienating core supporters.