On Thursday evening, while unconfirmed reports spread regarding an incident at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
While it is by no means a flawless news source, her statement resonated for numerous observers. It is one of the broadcasters where one can locate reality-based and generally dependable reporting – notably during breaking news situations like the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain Situation Amid a Business Tug-of-War
But the news network, now middle-aged, finds itself in a vulnerable situation as two massive media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a major game of business acquisition, instead of as a question of what benefits the information-seeking public.
“This represents another instance of the profound systemic issues with roots in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“It gets presented as a business story with key players as the central actors, but there is hardly any discussion of the societal benefit,” Pickard said.
The Complicating Layer: Political Influence
The CNN scenario is complicated by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Remember the shouts of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is a factor in why he seems to support Paramount Skydance, which has made a unsolicited offer.
He has grounds to like that suitor 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 conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Possibility of Continued Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be carved out into a separate entity. That would be a relief to many at the network, but it’s hardly a safe harbor. That arrangement could pave the way for CNN for yet another acquisition. It never ends.
According to Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by regulators,” Wu recently wrote.
The Core Problem and a Way Ahead
Whatever happens regarding CNN, the underlying crisis endures.
“What we have now is a highly structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can fix it.
Can reform occur in an era where the head of the FCC will not confirm that the agency is independent? Change is highly improbable now, but that is not to say it will not happen in the future.
Measures that support independent news organizations, reinforce local journalism, fund public media, and outlaw the consolidation of media power in very few hands are not only possible – they are necessary for a robust democracy.
Regarding media ownership, size does not equal quality. And news organizations including CNN must not be pawns in the most recent corporate chess match.
