On Thursday evening, as rumors swirled regarding the Brown University gunman, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though it is by no means a flawless news source, her message resonated for numerous observers. It remains one of the organizations where you can find grounded and largely trustworthy reporting – particularly during fast-moving events such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable Situation During a Business Tug-of-War
But the news network, now middle-aged, finds itself in a vulnerable position as two giant media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has been drawn into a high-stakes game of corporate ownership, rather than as a question of what helps the news-consuming public.
“This represents another instance of the fundamental flaws with origins in decades of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a business story with powerful individuals as the main characters, but there is scant discussion of the societal benefit,” Pickard said.
The Complicating Element: Political Influence
The CNN scenario is complicated by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his chief “fake news” foe.
Remember the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is a factor in why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like that company more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.
An Outcome of Continued Instability
It is important to note, if Netflix is successful, CNN and other cable outlets would first be separated into a separate entity. Such a move could be a relief to many at the network, but it’s hardly a safe harbor. That structure could pave the way for CNN for a future sale. It never ends.
According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by the government,” Wu recently wrote.
The Bigger Issue and a Way Ahead
No matter the outcome with this particular battle, the bigger problem endures.
“Our current system is a very system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard emphasized. Policy decisions – from the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can tackle it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Change is a distant prospect now, but that is not to say it will never happen.
Initiatives that bolster independent news organizations, reinforce local journalism, finance public media, and prevent the consolidation of media power in very few hands are not only possible – they are vital for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pawns in the most recent acquisition battle.
