Late Thursday, as rumors swirled regarding a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
While it is by no means a impeccable news source, her words seemed accurate for numerous observers. It is one of the outlets where there exists fact-based and generally trustworthy reporting – especially during breaking news situations like the one unfolding close to a New Hampshire storage facility.
A Precarious Position During a Business Struggle
But the news network, now 45 years old, finds itself in a uncertain state as two huge media corporations compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has become part of a major game of corporate ownership, instead of as a question of what serves the news-consuming public.
“Here is one more case of the profound systemic issues with origins in many years of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It gets presented as a business story with powerful individuals as the main characters, but there is scant discussion of the public interest,” Pickard explained.
A Further Factor: Political Influence
The network's predicament is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Recall the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is part of why he appears to support Paramount Skydance, which has made a hostile bid.
Trump has reason to like that bidder 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.
Paramount, parent of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Future of Further Turmoil
Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a separate entity. Such a move could be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That arrangement could set up CNN for yet another acquisition. It never ends.
If you ask Timothy Wu, a great deal 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 detrimental to the country, and both should be opposed by regulators,” Wu argued.
The Bigger Problem and a Way Ahead
Whatever happens regarding CNN, the underlying crisis remains.
“What we have now is a highly structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard noted. Policy decisions – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can tackle it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that should not imply it will not happen in the future.
Initiatives that strengthen independent news organizations, bolster local journalism, fund public media, and outlaw the consolidation of media power in too few hands are achievable – they are essential for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be pieces in the latest acquisition battle.
