Late Thursday, while unconfirmed reports spread concerning a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though the network is hardly a impeccable news source, her message rang true for a lot of people. It remains one of the outlets where there exists reality-based and largely trustworthy reporting – notably during fast-moving events like the one taking place in the vicinity of a New Hampshire storage facility.
A Vulnerable State During a Corporate Battle
However CNN, now middle-aged, finds itself in a uncertain position as two huge media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has been drawn into a major game of mergers and acquisitions, not as a question of what helps the information-seeking public.
“This is yet another example of the fundamental flaws with origins in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The debate about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a financial tale with powerful individuals as the main characters, but there is scant discussion of the societal benefit,” Pickard said.
A Further Layer: Political Influence
The CNN scenario is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his primary “fake news” foe.
Remember the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now says that CNN needs new ownership. You can read that as ownership that will protect him from criticism and scrutiny. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
He has grounds to favor 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.
The company, owner of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Future of Continued Uncertainty
Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a standalone company. That would be a relief to many at the network, but it’s hardly a secure position. That structure could set up CNN for yet another acquisition. It never ends.
In the view of Timothy Wu, much of this is illegal, anyway. The influential voice 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 contested by anti-trust authorities,” Wu argued.
The Fundamental Challenge and a Way Ahead
Regardless of the resolution with this particular battle, the larger issue persists.
“Our current system is a highly system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to create this profit-obsessed monster, and different policy decisions can fix it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Reform is highly improbable now, but that is not to say 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 vital for a functioning democracy.
Regarding media ownership, bigger isn’t better. And news organizations like CNN cannot be tools in the newest corporate chess match.
