On Thursday evening, while unconfirmed reports spread concerning the Brown University gunman, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
Even though it is by no means a flawless news source, her message rang true for numerous observers. It stands as one of the organizations where there exists fact-based and largely dependable reporting – particularly during fast-moving events such as the one developing near a New Hampshire storage facility.
A Precarious Position During a Business Battle
Yet CNN, now middle-aged, finds itself in a precarious state as two giant media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has turned into a major game of corporate ownership, instead of as a question of what helps the information-seeking public.
“This represents another instance of the deep structural problems with origins in many years of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The debate about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a more important point.
“It is often framed as a financial tale with powerful individuals as the central actors, but there is hardly any discussion of the societal benefit,” 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 main “fake news” antagonist.
Remember the chants of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is part of why he appears to support Paramount Skydance, which has made a unsolicited offer.
He has grounds to prefer that bidder more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Possibility of Continued Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a independent unit. This might be a relief to many at the network, but it’s far from a secure position. That setup could pave the way for CNN for yet another acquisition. The cycle continues.
According to 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.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by regulators,” Wu argued.
The Fundamental Issue and a Way Ahead
Whatever happens with this particular battle, the underlying crisis remains.
“Our current system is a profoundly structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can address 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.
Measures that bolster independent news organizations, aid local journalism, finance public media, and prohibit the consolidation of media power in very few hands are within reach – they are vital for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN cannot be pieces in the most recent corporate chess match.
