On Thursday evening, amid swirling speculation about the Brown University gunman, CNN’s Kaitlan Collins posted on social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Even though it is by no means a perfect news source, her words seemed accurate for a lot of people. It stands as one of the outlets where you can find reality-based and generally dependable reporting – particularly during crises such as the one developing near a New Hampshire storage facility.
A Precarious State Amid a Corporate Struggle
But the news network, now four and a half decades old, finds itself in a vulnerable position as two giant media empires compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has turned into a high-risk game of corporate ownership, not as a question of what helps the information-seeking public.
“This is yet another example of the fundamental flaws with roots in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The debate about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a corporate drama with influential figures as the protagonists, but there is hardly any discussion of the common good,” Pickard explained.
A Further Element: Donald Trump
The CNN scenario is made more complex by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” foe.
Recall the cries of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is a factor in why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to favor 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.
The company, owner of CBS News, also recently appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of Further Instability
Significantly, if Netflix prevails, CNN and other cable outlets would first be separated into a standalone company. Such a move could be a relief to many at the network, but it’s far from a secure position. That arrangement could set up CNN for a future sale. The cycle continues.
In the view of Timothy Wu, a lot of this is illegal, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by anti-trust authorities,” Wu stated.
The Bigger Problem and a Path Forward
Whatever happens with this particular battle, the underlying crisis endures.
“Our current system is a profoundly anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard said. Government actions – originating in the 1930s and 1940s – helped to create this hyper-commercialized 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? Overhaul is very unlikely now, but that should not imply it will not happen in the future.
Measures that support independent news organizations, aid local journalism, finance public media, and prevent the consolidation of media power in a handful of hands are achievable – they are necessary for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations like CNN cannot be pawns in the latest acquisition battle.
