This past Thursday night, amid swirling speculation concerning the Brown University gunman, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Although it is by no means a flawless news source, her statement resonated for numerous observers. It stands as one of the organizations where there exists fact-based and generally reliable reporting – especially during fast-moving events like the one taking place near a New Hampshire storage facility.
A Precarious State Amid a Corporate Struggle
But CNN, now middle-aged, finds itself in a precarious situation as two massive media corporations vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has turned into a high-risk game of corporate ownership, not as a question of what serves the information-seeking public.
“This is yet another example of the profound systemic issues with roots in many years of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It gets presented as a business story with key players as the central actors, but there is hardly any discussion of the public interest,” Pickard explained.
The Additional Factor: The Former President
The network's predicament is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Think back to the shouts of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is a factor in why he seems to favor Paramount Skydance, which has made a hostile bid.
There is a basis to prefer that company more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Future of Continued Turmoil
Significantly, if Netflix is successful, CNN and other cable outlets would first be carved out into a independent unit. Such a move could be a relief to many at the network, but it’s hardly a guarantee of stability. That structure could position CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, a great deal of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Either merger would be detrimental to the country, and both should be contested by regulators,” Wu argued.
The Core Issue and a Way Ahead
Regardless of the resolution with this particular battle, the larger issue remains.
“The present media landscape is a profoundly system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Government actions – from the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can tackle it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is very unlikely now, but that is not to say it will never happen.
Policies that support independent news organizations, aid local journalism, fund public media, and prevent the concentration of media power in a handful of hands are within reach – they are necessary for a robust democracy.
Regarding media ownership, bigger isn’t better. And news organizations such as CNN must not be pawns in the latest acquisition battle.
