If the new logline answers the ownership legality problems is for others to answer. But I like the logline, it has a lot of irony now. But I think to make the logline shorter you could lose "dying father" and you also have: to" --- "in order (to)"...
If the brothers are "inept" it is only logical that they make bad programs. They don't have to make bad programs on purpose anymore.
Problem with "only to find enormous success online" is that the sentence isn't crisp anymore. But there is a lot of irony.
So now there is now way the CEO will ever sell back his shares?! But - but the CEO also has a new problem, should he still turn the TV station into a chopping channel now it has more success than ever?
As you said The CEO wants "its current viewing audience" but will he lose that audience turning the station into a chopping channel?
We want the series to have more episodes, so the CEO decides to turn the station into a chopping channel.. If the brothers can earn more money by making bad TV programs, they can make a shitload of money making bad chopping channel programs the CEO argues.
TWIST (after 7 episodes?) (Total: 14 episodes?)
So they start making chopping programs. But this does not work because it's impossible to make shitier chopping channel program than allready are made, ONLY FUNNIER. Making chopping channel programs becomes a fiasco and the CEO bales out. Because of their prior success the brothers have built up a financial buffer and are able to re-start their normal community TV station. End of seasons 1. But is there any intresting 'contradicting' content left for a possible season 2?
After an aggressive takeover of their independent TV station, two talented brothers must produce the worst shows to temporarily lose ratings and force the greedy CEO to sell back their shares(, only to find enormous success online).