On Thursday evening, amid swirling speculation concerning the Brown University gunman, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Although the network is hardly a flawless news source, her statement rang true for numerous observers. It stands as one of the outlets where there exists fact-based and generally reliable reporting – notably during breaking news situations such as the one taking place near a New Hampshire storage facility.
An Uncertain Position Amid a Business Battle
Yet CNN, now middle-aged, finds itself in a uncertain situation as two giant media empires compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has become part of a high-stakes game of corporate ownership, instead of as a question of what helps the information-seeking public.
“This is yet another example of the profound systemic issues with origins in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The conjecture about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a corporate drama with key players as the protagonists, but there is scant discussion of the common good,” Pickard said.
The Complicating Factor: The Former President
This situation is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Think back to the shouts of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will protect him from journalistic oversight. That is one reason why he appears 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 led 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 placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
An Outcome of More Instability
Significantly, if Netflix wins, CNN and other cable outlets would first be separated into a separate entity. Such a move could be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That setup could set up CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Each proposed deal would be harmful to the country, and both should be opposed by regulators,” Wu stated.
The Core Problem and a Way Ahead
Whatever happens regarding CNN, the underlying crisis remains.
“The present media landscape is a profoundly anti-democratic system, but we must resist a sense of powerlessness,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and revised policy decisions can fix it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Change is very unlikely now, but that doesn’t mean it will never happen.
Measures that bolster independent news organizations, bolster local journalism, fund public media, and prohibit the accumulation of media power in a handful of hands are achievable – they are vital for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations including CNN must not be pieces in the most recent acquisition battle.
