Late Thursday, as rumors swirled regarding the Brown University gunman, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
Even though it is by no means a flawless news source, her statement rang true for a lot of people. It stands as one of the outlets where one can locate reality-based and mostly reliable reporting – particularly during breaking news situations such as the one unfolding near a New Hampshire storage facility.
A Precarious Situation Amid a Corporate Battle
Yet the news network, now four and a half decades old, finds itself in a vulnerable situation as two huge media empires battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has turned into a high-stakes game of business acquisition, not as a question of what helps the news-consuming public.
“This is yet another example of the deep structural problems with roots in decades of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The debate about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a larger point.
“It is often framed as a financial tale with key players as the central actors, but there is hardly any discussion of the public interest,” Pickard said.
A Further Factor: Donald Trump
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” antagonist.
Think back to the cries of “CNN sucks!” at the president’s rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now asserts that the network requires new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. That is part of why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
He has grounds to like 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, owner of CBS News, also recently installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of Continued Instability
Significantly, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. That would be a relief to many at the network, but it’s not exactly a guarantee of stability. That structure could pave the way for CNN for a future sale. The cycle continues.
If you ask Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Each proposed deal would be harmful to the country, and both should be challenged by regulators,” Wu stated.
The Bigger Problem and a Path Forward
Regardless of the resolution regarding CNN, the larger issue endures.
“What we have now is a profoundly anti-democratic system, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and revised policy decisions can address it.
Can reform occur in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Reform is a distant prospect now, but that doesn’t mean it will not happen in the future.
Measures that strengthen independent news organizations, reinforce local journalism, finance public media, and prevent the accumulation of media power in too few hands are not only possible – they are necessary for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN shouldn’t be pieces in the newest corporate chess match.
