This past Thursday night, amid swirling speculation concerning an incident at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
While the network is hardly a perfect news source, her message rang true for numerous observers. It remains one of the broadcasters where one can locate fact-based and largely trustworthy reporting – especially during breaking news situations such as the one developing close to a New Hampshire storage facility.
A Vulnerable State During a Corporate Battle
Yet CNN, now middle-aged, finds itself in a uncertain situation as two huge media empires compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a high-stakes game of business acquisition, not as a question of what benefits the information-seeking public.
“This is yet another example of the fundamental flaws with origins in many years of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The conjecture about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a financial tale with key players as the protagonists, but there is scant discussion of the common good,” Pickard explained.
A Further Factor: The Former President
The network's predicament is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” foe.
Think back to the chants of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is part of why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to favor that company 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, owner of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
An Outcome of More Instability
It is important to note, if Netflix is successful, CNN and other cable outlets would first be separated into a separate entity. That would be a welcome development to many at the network, but it’s not exactly a secure position. That structure could position CNN for a future sale. The cycle continues.
In the view of Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that competition laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Fundamental Issue and a Potential Solution
No matter the outcome in this situation, the underlying crisis remains.
“Our current system is a profoundly structure that undermines democracy, but we ought not succumb to learned helplessness,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to create this overly commercial monster, and new policy decisions can tackle it.
Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Change is very unlikely now, but that should not imply it will be impossible forever.
Policies that strengthen independent news organizations, reinforce local journalism, fund public media, and prevent the concentration of media power in too few hands are achievable – they are essential for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN shouldn’t be pawns in the most recent acquisition battle.
