On Thursday evening, as rumors swirled regarding a shooting at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Even though the network is hardly a impeccable news source, her statement seemed accurate for numerous observers. It stands as one of the outlets where there exists grounded and generally trustworthy reporting – particularly during crises such as the one unfolding close to a New Hampshire storage facility.
A Vulnerable Position During a High-Stakes Tug-of-War
However CNN, now 45 years old, finds itself in a vulnerable situation as two massive media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a major game of corporate ownership, instead of as a question of what serves the news-consuming public.
“This represents another instance of the profound systemic issues with origins in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“It gets presented as a corporate drama with key players as the protagonists, but there is very little discussion of the public interest,” Pickard said.
The Complicating Layer: Donald Trump
This situation is further muddied by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his primary “fake news” foe.
Recall the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will insulate him from criticism and scrutiny. That is one reason why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to prefer that suitor more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Possibility of Further Uncertainty
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a independent unit. That would be a relief to many at the network, but it’s not exactly a secure position. That arrangement could pave the way for CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that competition laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by the government,” Wu stated.
The Fundamental Problem and a Way Ahead
Regardless of the resolution regarding CNN, the underlying crisis remains.
“What we have now is a very anti-democratic system, but we must resist a sense of powerlessness,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can address it.
Will that happen in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will not happen in the future.
Policies that support independent news organizations, bolster local journalism, finance public media, and outlaw the consolidation of media power in very few hands are within reach – they are essential for a healthy democracy.
In the world of media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be pieces in the latest acquisition battle.
