This past Thursday night, amid swirling speculation about the Brown University gunman, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
While it is by no means a impeccable news source, her message resonated for numerous observers. It stands as one of the broadcasters where one can locate fact-based and mostly trustworthy reporting – notably during fast-moving events like the one taking place close to a New Hampshire storage facility.
A Vulnerable State During a High-Stakes Tug-of-War
However the news network, now middle-aged, finds itself in a vulnerable position as two giant media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has been drawn into a major game of business acquisition, instead of as a question of what helps the news-consuming public.
“This represents another instance of the profound systemic issues with roots in decades of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a corporate drama with powerful individuals as the central actors, but there is very little discussion of the common good,” Pickard explained.
A Further Element: Donald Trump
This situation is further muddied by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” foe.
Remember the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is one reason why he seems to come down on the side of Paramount Skydance, which has made a unsolicited offer.
Trump has reason to favor that suitor 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, famous for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of Further Instability
Notably, if Netflix prevails, CNN and other cable outlets would first be carved out 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 setup could position CNN for another sale. It never ends.
In the view of Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by the government,” Wu stated.
The Bigger Issue and a Potential Solution
No matter the outcome in this situation, the underlying crisis remains.
“Our current system is a very anti-democratic system, but we ought not succumb to learned helplessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can tackle it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Reform is a distant prospect now, but that doesn’t mean it will be impossible forever.
Initiatives that support independent news organizations, bolster local journalism, finance public media, and outlaw the concentration of media power in too few hands are not only possible – they are necessary for a robust democracy.
When it comes to media ownership, bigger isn’t better. And news organizations including CNN must not be tools in the newest merger game.
