On Thursday evening, as rumors swirled regarding the Brown University gunman, CNN’s Kaitlan Collins used social media, noting the confusion and guiding the public to her network’s 9pm newscast.
While CNN is certainly not a impeccable news source, her message rang true to many. It stands as one of the broadcasters where one can locate grounded and generally trustworthy reporting – especially during fast-moving events like the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain Situation During a Business Battle
But the news network, now four and a half decades old, finds itself in a uncertain position as two massive media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a major game of corporate ownership, rather than as a question of what helps the news-consuming public.
“This represents another instance of the deep structural problems with origins in many years of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It gets presented as a financial tale with influential figures as the protagonists, but there is hardly any discussion of the public interest,” Pickard said.
A Further Factor: Donald Trump
This situation is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” antagonist.
Recall the chants of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will protect him from journalistic oversight. That is a factor in why he seems to favor Paramount Skydance, which has made a hostile bid.
Trump has reason to prefer that bidder more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently placed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
An Outcome of More Uncertainty
It is important to note, if Netflix is successful, CNN and other cable outlets would first be carved out into a separate entity. That would be a welcome development to many at the network, but it’s hardly a safe harbor. That arrangement could set up CNN for another sale. There is no finish line.
According to Timothy Wu, a lot of this is illegal, anyway. The influential voice of big tech’s dominance stated that competition laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by anti-trust authorities,” Wu stated.
The Bigger Issue and a Way Ahead
No matter the outcome regarding CNN, the underlying crisis endures.
“Our current system is a profoundly system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and different 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 very unlikely now, but that is not to say it will be impossible forever.
Policies that bolster independent news organizations, aid local journalism, subsidize public media, and outlaw the accumulation of media power in too few hands are not only possible – they are vital for a functioning democracy.
Regarding media ownership, size does not equal quality. And news organizations such as CNN cannot be pieces in the most recent acquisition battle.
