Late Thursday, as rumors swirled about a shooting at Brown University, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
Although CNN is certainly not a flawless news source, her words seemed accurate for numerous observers. It remains one of the outlets where one can locate reality-based and largely reliable reporting – particularly during fast-moving events like the one developing near a New Hampshire storage facility.
A Vulnerable Position Amid a Business Battle
But CNN, now four and a half decades old, finds itself in a precarious position as two massive media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has turned into a high-stakes game of corporate ownership, instead of as a question of what benefits the information-seeking public.
“This is yet another example of the deep structural problems with origins in decades of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The conjecture about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a more important point.
“The narrative is crafted as a corporate drama with powerful individuals as the protagonists, but there is scant discussion of the societal benefit,” Pickard added.
The Complicating Factor: Political Influence
This situation is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” foe.
Recall the shouts of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now says that the network requires new ownership. You can read that as ownership that will shield him from negative coverage and examination. That is a factor in why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to prefer that company more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Future of Further Uncertainty
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a relief to many at the network, but it’s far from a guarantee of stability. That structure could position CNN for another sale. It never ends.
If you ask Timothy Wu, a lot of this is illegal, anyway. The prominent critic 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 challenged by regulators,” Wu stated.
The Core Challenge and a Way Ahead
No matter the outcome in this situation, the bigger problem persists.
“Our current system is a profoundly anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and new policy decisions can fix it.
Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will not happen in the future.
Measures that strengthen independent news organizations, aid local journalism, fund public media, and prohibit the consolidation of media power in a handful of hands are within reach – they are vital for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations such as CNN cannot be pieces in the newest acquisition battle.
