Late Thursday, as rumors swirled concerning a shooting at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Even though the network is hardly a perfect news source, her statement resonated for a lot of people. It stands as one of the broadcasters where one can locate fact-based and mostly dependable reporting – notably during crises such as the one taking place near a New Hampshire storage facility.
A Precarious Situation Amid a Corporate Battle
Yet the news network, now 45 years old, finds itself in a precarious state as two massive media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has been drawn into a high-stakes game of business acquisition, rather than as a question of what serves the information-seeking public.
“Here is one more case of the fundamental flaws with origins in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
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 influential figures as the protagonists, but there is hardly any discussion of the societal benefit,” Pickard explained.
A Further Factor: Donald Trump
This situation is complicated by Donald Trump’s views about a network he has long portrayed as perhaps his primary “fake news” adversary.
Think back to the shouts of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now asserts that the network requires new ownership. This can be interpreted as ownership that will protect him from negative coverage and examination. That is part of why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to favor 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.
Paramount, owner of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of Continued Turmoil
Significantly, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. This might be a welcome development to many at the network, but it’s far from a guarantee of stability. That structure could pave the way for CNN for yet another acquisition. The cycle continues.
If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Bigger Issue and a Path Forward
Regardless of the resolution in this situation, the bigger problem remains.
“Our current system is a profoundly structure that undermines democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Government actions – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can tackle it.
Is this likely in an era where the top communications regulator won’t even affirm that the agency is independent? Change is a distant prospect now, but that doesn’t mean it will never happen.
Policies that strengthen independent news organizations, aid local journalism, subsidize public media, and prohibit the accumulation of media power in a handful of hands are achievable – they are necessary for a functioning democracy.
In the world of media ownership, larger is not superior. And news organizations such as CNN cannot be pieces in the latest acquisition battle.
