This past Thursday night, as rumors swirled regarding the Brown University gunman, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
While CNN is certainly not a impeccable news source, her words seemed accurate for numerous observers. It is one of the broadcasters where you can find fact-based and largely dependable reporting – particularly during fast-moving events such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious State Amid a Business Tug-of-War
But the news network, now 45 years old, finds itself in a vulnerable position as two giant media empires compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a high-stakes game of corporate ownership, not as a question of what benefits the information-seeking public.
“This represents another instance of the profound systemic issues with roots in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a corporate drama with influential figures as the protagonists, but there is very little discussion of the public interest,” Pickard said.
The Additional Element: Donald Trump
The network's predicament is further muddied by Donald Trump’s opinions about a network he has consistently labeled as perhaps his primary “fake news” adversary.
Remember the chants of “CNN sucks!” at the president’s rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is a factor in why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to prefer that bidder more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that storied news network.
A Possibility of More Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be separated into a separate entity. This might be a relief to many at the network, but it’s not exactly a secure position. That structure could set up CNN for another sale. It never ends.
If you ask Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by the government,” Wu stated.
The Core Problem and a Way Ahead
Whatever happens regarding CNN, the larger issue persists.
“What we have now is a highly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Policy decisions – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can address it.
Can reform occur in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that should not imply it will not happen in the future.
Measures that support independent news organizations, aid local journalism, finance public media, and prohibit the consolidation of media power in too few hands are within reach – they are necessary for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN must not be pieces in the newest acquisition battle.
