Late Thursday, as rumors swirled concerning a shooting at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Although CNN is certainly not a perfect news source, her statement seemed accurate for numerous observers. It is one of the organizations where you can find grounded and generally dependable reporting – notably during fast-moving events like the one unfolding in the vicinity of a New Hampshire storage facility.
An Uncertain Position During a Business Struggle
Yet the news network, now four and a half decades old, finds itself in a precarious position as two massive media empires compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has become part of a high-stakes game of business acquisition, instead of as a question of what benefits the news-consuming public.
“This represents another instance of the profound systemic issues with origins in many years of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a corporate drama with powerful individuals as the main characters, but there is scant discussion of the common good,” Pickard explained.
The Additional Factor: Donald Trump
This situation is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his chief “fake news” adversary.
Think back to the shouts of “CNN sucks!” at the president’s rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is part of why he seems to favor Paramount Skydance, which has made a hostile bid.
Trump has reason to prefer that suitor more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Possibility of Continued Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be carved out into a separate entity. That would be a relief to many at the network, but it’s far from a safe harbor. That arrangement could position CNN for yet another acquisition. It never ends.
According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be opposed by the government,” Wu stated.
The Fundamental Issue and a Potential Solution
Regardless of the resolution in this situation, the underlying crisis remains.
“What we have now is a very system hostile to democracy, but we must resist a sense of powerlessness,” Pickard emphasized. Government actions – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new policy decisions can fix it.
Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Change is highly improbable now, but that doesn’t mean it will never happen.
Policies that support independent news organizations, bolster local journalism, finance public media, and prevent the concentration of media power in a handful of hands are not only possible – they are essential for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations such as CNN shouldn’t be pawns in the newest acquisition battle.
