On Thursday evening, as rumors swirled concerning the Brown University gunman, CNN’s Kaitlan Collins posted on social media, noting the confusion and directing people to her network’s 9pm newscast.
Even though it is by no means a impeccable news source, her words seemed accurate for numerous observers. It remains one of the outlets where one can locate fact-based and largely trustworthy reporting – particularly during breaking news situations like the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious Situation During a Business Battle
Yet CNN, now four and a half decades old, finds itself in a precarious situation as two huge media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has become part of a high-stakes game of corporate ownership, instead of as a question of what benefits the news-consuming public.
“Here is one more case of the deep structural problems with origins in decades of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The debate about the future owner of 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 main characters, but there is very little discussion of the societal benefit,” Pickard explained.
The Complicating Factor: Donald Trump
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his chief “fake news” antagonist.
Recall the chants of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now says that the network requires new ownership. You can read that as ownership that will insulate him from criticism and scrutiny. That is one reason why he seems to support Paramount Skydance, which has made a unsolicited offer.
There is a basis to prefer 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.
Paramount, parent of CBS News, also recently appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Possibility of Further Instability
Significantly, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. This might be a relief to many at the network, but it’s hardly a secure position. That setup could pave the way for CNN for a future sale. It never ends.
In the view of Timothy Wu, a great deal of this is against the law, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be opposed by the government,” Wu argued.
The Bigger Problem and a Way Ahead
No matter the outcome in this situation, the larger issue persists.
“Our current system is a profoundly structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can tackle it.
Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that should not imply it will be impossible forever.
Initiatives that bolster independent news organizations, reinforce local journalism, fund public media, and outlaw the accumulation of media power in a handful of hands are achievable – they are necessary for a functioning democracy.
Regarding media ownership, size does not equal quality. And news organizations including CNN cannot be pawns in the newest acquisition battle.
