On Thursday evening, amid swirling speculation concerning a shooting at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
Even though CNN is certainly not a perfect news source, her statement rang true for numerous observers. It is one of the outlets where there exists grounded and largely trustworthy reporting – particularly during fast-moving events such as the one developing in the vicinity of a New Hampshire storage facility.
A Precarious State During a Corporate Tug-of-War
Yet CNN, now middle-aged, finds itself in a uncertain state as two giant media empires compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has turned into a high-risk game of business acquisition, instead of as a question of what helps the information-seeking public.
“Here is one more case of the fundamental flaws with origins in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The debate about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a corporate drama with key players as the protagonists, but there is scant discussion of the public interest,” Pickard added.
The Complicating Element: The Former President
This situation is made more complex by Donald Trump’s views about a network he has long portrayed as perhaps his primary “fake news” adversary.
Recall the shouts of “CNN sucks!” at the president’s rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is part of why he appears to support Paramount Skydance, which has made a hostile bid.
He has grounds to favor that company more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of Continued Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. Such a move could be a relief to many at the network, but it’s hardly a secure position. That setup could set up CNN for another sale. There is no finish line.
In the view of Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Either merger would be bad for the country, and both should be opposed by regulators,” Wu stated.
The Bigger Challenge and a Potential Solution
Regardless of the resolution with this particular battle, the larger issue persists.
“Our current system is a very anti-democratic system, but we must resist a sense of powerlessness,” Pickard emphasized. Policy decisions – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can tackle it.
Can reform occur in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that should not imply it will not happen in the future.
Initiatives that bolster independent news organizations, reinforce local journalism, subsidize public media, and prevent the concentration of media power in a handful of hands are not only possible – they are necessary for a healthy democracy.
In the world of media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pawns in the newest acquisition battle.
