On Thursday evening, as rumors swirled regarding the Brown University gunman, CNN’s Kaitlan Collins took to social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
While CNN is certainly not a perfect news source, her statement seemed accurate to many. It stands as one of the outlets where you can find reality-based and generally dependable reporting – notably during fast-moving events such as the one developing close to a New Hampshire storage facility.
An Uncertain Position During a Business Tug-of-War
But CNN, now middle-aged, finds itself in a uncertain state as two massive media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has been drawn into a major game of corporate ownership, not as a question of what helps the information-seeking public.
“Here is one more case of the deep structural problems with origins in many years of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a corporate drama with key players as the central actors, but there is hardly any discussion of the public interest,” Pickard explained.
The Complicating Layer: Political Influence
The network's predicament is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” foe.
Think back to the shouts of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is one reason why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor that bidder more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that storied news network.
An Outcome of Continued Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a welcome development to many at the network, but it’s hardly a guarantee of stability. That structure could set up CNN for yet another acquisition. It never ends.
According to Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Either merger would be detrimental to the country, and both should be opposed by regulators,” Wu argued.
The Fundamental Problem and a Path Forward
Whatever happens regarding CNN, the underlying crisis persists.
“The present media landscape is a profoundly system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard said. Policy decisions – from the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can tackle it.
Will that happen in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Reform is highly improbable now, but that is not to say it will be impossible forever.
Initiatives that support independent news organizations, bolster local journalism, finance public media, and prohibit the accumulation of media power in too few hands are not only possible – they are vital for a healthy democracy.
In the world of media ownership, bigger isn’t better. And news organizations like CNN cannot be pawns in the latest acquisition battle.
