Late Thursday, while unconfirmed reports spread concerning the Brown University gunman, CNN’s Kaitlan Collins posted on social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Even though CNN is certainly not a impeccable news source, her words seemed accurate for a lot of people. It is one of the outlets where you can find grounded and generally dependable reporting – particularly during breaking news situations such as the one unfolding near a New Hampshire storage facility.
A Vulnerable Situation Amid a Business Tug-of-War
But the news network, now 45 years old, finds itself in a vulnerable situation as two massive media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has become part of a high-risk game of business acquisition, not as a question of what serves the information-seeking public.
“This represents another instance of the profound systemic issues with origins in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a corporate drama with influential figures as the central actors, but there is very little discussion of the public interest,” Pickard explained.
The Additional Factor: The Former President
This situation is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” antagonist.
Recall the cries of “CNN sucks!” at his rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is one reason why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like that bidder 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.
The company, owner of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of Further Uncertainty
It is important to note, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s not exactly a guarantee of stability. That setup could position CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance stated that competition laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu recently wrote.
The Core Issue and a Path Forward
No matter the outcome in this situation, the bigger problem endures.
“Our current system is a profoundly anti-democratic system, but we must resist the belief that change is impossible,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and revised policy decisions can tackle it.
Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Change is very unlikely now, but that doesn’t mean it will never happen.
Policies that support independent news organizations, aid local journalism, subsidize public media, and prohibit the accumulation of media power in too few hands are achievable – they are essential for a healthy democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN cannot be pawns in the most recent acquisition battle.
