Late Thursday, while unconfirmed reports spread concerning an incident at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
While it is by no means a flawless news source, her words rang true for a lot of people. It stands as one of the broadcasters where one can locate fact-based and mostly trustworthy reporting – notably during fast-moving events such as the one taking place close to a New Hampshire storage facility.
A Vulnerable Situation During a Corporate Tug-of-War
But CNN, now middle-aged, finds itself in a vulnerable situation as two huge media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a high-risk game of corporate ownership, rather than as a question of what helps the information-seeking public.
“This is yet another example of the fundamental flaws with roots in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“The narrative is crafted as a financial tale with powerful individuals as the central actors, but there is hardly any discussion of the public interest,” Pickard added.
The Complicating Element: Donald Trump
This situation is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” foe.
Remember the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that CNN needs new ownership. You can read that as ownership that will shield him from journalistic oversight. That is one reason why he appears to support Paramount Skydance, which has made a hostile bid.
He has grounds to prefer that suitor more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Future of Continued Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be separated into a separate entity. This might be a relief to many at the network, but it’s hardly a safe harbor. That arrangement could position CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by the government,” Wu recently wrote.
The Fundamental Issue and a Potential Solution
Regardless of the resolution with this particular battle, the bigger problem persists.
“What we have now is a profoundly system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can tackle it.
Can reform occur in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will not happen in the future.
Initiatives that support independent news organizations, reinforce local journalism, subsidize public media, and outlaw the consolidation of media power in a handful of hands are not only possible – they are necessary for a healthy democracy.
When it comes to media ownership, size does not equal quality. And news organizations like CNN shouldn’t be pieces in the most recent acquisition battle.
