On Thursday evening, as rumors swirled regarding a shooting at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
While it is by no means a impeccable news source, her words rang true for numerous observers. It is one of the broadcasters where one can locate fact-based and generally trustworthy reporting – particularly during breaking news situations like the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious Position Amid a Corporate Battle
But the news network, now four and a half decades old, finds itself in a vulnerable situation as two giant media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has turned into a major game of mergers and acquisitions, instead of as a question of what helps the news-consuming public.
“This represents another instance of the deep structural problems with origins in many years of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a more important point.
“The narrative is crafted as a business story with powerful individuals as the protagonists, but there is hardly any discussion of the public interest,” Pickard said.
The Additional Element: The Former President
This situation is made more complex by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his chief “fake news” antagonist.
Think back to the shouts of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will insulate him from criticism and scrutiny. That is one reason why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.
Trump has reason to prefer that company more. For one thing, it is run 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, famous for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
An Outcome of More Uncertainty
It is important to note, if Netflix is successful, CNN and other cable outlets would first be carved out into a separate entity. This might be a relief to many at the network, but it’s far from a secure position. That setup could set up CNN for a future sale. The cycle continues.
In the view of Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that competition laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by regulators,” Wu argued.
The Fundamental Issue and a Potential Solution
Whatever happens in this situation, the underlying crisis remains.
“Our current system is a very structure that undermines democracy, but we must resist learned helplessness,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can tackle it.
Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will be impossible forever.
Measures that bolster independent news organizations, reinforce local journalism, subsidize public media, and prevent the concentration of media power in very few hands are not only possible – they are essential for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations such as CNN shouldn’t be tools in the newest corporate chess match.
