This past Thursday night, amid swirling speculation concerning the Brown University gunman, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Even though it is by no means a flawless news source, her statement seemed accurate for a lot of people. It stands as one of the broadcasters where one can locate reality-based and mostly trustworthy reporting – notably during breaking news situations such as the one unfolding near a New Hampshire storage facility.
A Precarious Position Amid a Corporate Struggle
Yet CNN, now middle-aged, finds itself in a uncertain state as two massive media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has become part of a high-risk game of business acquisition, instead of as a question of what helps the news-consuming public.
“This is yet another example of the fundamental flaws with origins in decades of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The debate about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a financial tale with key players as the central actors, but there is scant discussion of the common good,” Pickard explained.
The Complicating Layer: Political Influence
This situation is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” foe.
Remember the shouts of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer that company more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Possibility of Continued Instability
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. That would be a relief to many at the network, but it’s not exactly a guarantee of stability. That setup could position CNN for another sale. There is no finish line.
If you ask Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance stated that competition laws should disallow both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Bigger Issue and a Way Ahead
No matter the outcome with this particular battle, the bigger problem persists.
“Our current system is a profoundly anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Policy decisions – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can address it.
Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is a distant prospect now, but that doesn’t mean it will not happen in the future.
Measures that bolster independent news organizations, reinforce local journalism, fund public media, and prevent the accumulation of media power in very few hands are not only possible – they are vital for a functioning democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be pieces in the most recent corporate chess match.
