This past Thursday night, amid swirling speculation concerning a shooting at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
While CNN is certainly not a impeccable news source, her statement seemed accurate for numerous observers. It stands as one of the broadcasters where one can locate fact-based and mostly dependable reporting – notably during breaking news situations like the one developing close to a New Hampshire storage facility.
A Precarious Situation During a Business Battle
Yet CNN, now middle-aged, finds itself in a uncertain state as two massive media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a high-risk game of corporate ownership, rather than as a question of what benefits the news-consuming public.
“This represents another instance of the deep structural problems with roots in many years of policy decisions,” said Victor Pickard, writer 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 more important point.
“The narrative is crafted as a corporate drama with influential figures as the central actors, but there is scant discussion of the societal benefit,” Pickard explained.
The Complicating Layer: The Former President
The CNN scenario is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his chief “fake news” adversary.
Recall the shouts of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to prefer that company 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, owner of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Possibility of Further Instability
Significantly, if Netflix prevails, CNN and other cable outlets would first be separated into a standalone company. This might be a relief to many at the network, but it’s hardly a safe harbor. That structure could position CNN for yet another acquisition. It never ends.
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 wrote recently that competition laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by regulators,” Wu stated.
The Core Problem and a Potential Solution
Regardless of the resolution regarding CNN, the bigger problem remains.
“What we have now is a highly anti-democratic system, but we must resist learned helplessness,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can tackle it.
Is this likely 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 never happen.
Policies that support independent news organizations, bolster local journalism, finance public media, and prohibit the accumulation of media power in too few hands are achievable – they are vital for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN shouldn’t be tools in the most recent acquisition battle.
