On Thursday evening, as rumors swirled concerning the Brown University gunman, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
Even though the network is hardly a flawless news source, her words rang true for a lot of people. It is one of the organizations where there exists fact-based and mostly trustworthy reporting – particularly during fast-moving events such as the one developing in the vicinity of a New Hampshire storage facility.
A Precarious Situation During a Business Tug-of-War
Yet CNN, now middle-aged, finds itself in a uncertain situation as two giant media corporations vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a high-risk game of corporate ownership, instead of as a question of what helps the news-consuming public.
“This represents another instance of the profound systemic issues with roots in many years of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The conjecture about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“The narrative is crafted as a corporate drama with key players as the central actors, but there is scant discussion of the common good,” Pickard said.
A Further Element: Donald Trump
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his primary “fake news” adversary.
Remember 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 press 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 seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to like that company more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently installed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Future of More Instability
Notably, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. That would be a welcome development to many at the network, but it’s hardly a secure position. That structure could position CNN for yet another acquisition. It never ends.
According to Timothy Wu, a great deal of this is against the law, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by the government,” Wu stated.
The Core Challenge and a Way Ahead
Regardless of the resolution regarding CNN, the bigger problem endures.
“Our current system is a very system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can tackle it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will never happen.
Initiatives that strengthen independent news organizations, bolster local journalism, fund public media, and prevent the concentration of media power in very few hands are not only possible – they are essential for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN must not be pieces in the newest acquisition battle.
