This past Thursday night, amid swirling speculation about the Brown University gunman, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Even though CNN is certainly not a impeccable news source, her statement rang true to many. It stands as one of the broadcasters where there exists reality-based and largely trustworthy reporting – especially during fast-moving events such as the one taking place near a New Hampshire storage facility.
A Vulnerable Position Amid a High-Stakes Struggle
Yet the news network, now four and a half decades old, finds itself in a uncertain state as two massive media corporations compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has been drawn into a high-stakes game of business acquisition, instead of as a question of what serves the news-consuming public.
“Here is one more case of the deep structural problems with roots in many years of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The debate about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a more important point.
“It gets presented as a corporate drama with influential figures as the main characters, but there is very little discussion of the public interest,” Pickard said.
A Further Factor: Donald Trump
This situation is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Recall the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is one reason why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to favor 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, parent of CBS News, also recently installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Future of More Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. This might be a relief to many at the network, but it’s hardly a guarantee of stability. That setup could set up CNN for a future sale. It never ends.
According to Timothy Wu, a great deal of this is illegal, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by regulators,” Wu recently wrote.
The Fundamental Challenge and a Way Ahead
Whatever happens regarding CNN, the underlying crisis remains.
“Our current system is a very anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can address it.
Will that happen in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will not happen in the future.
Initiatives that strengthen independent news organizations, aid local journalism, finance public media, and prevent the concentration of media power in very few hands are achievable – they are vital for a robust democracy.
When it comes to media ownership, bigger isn’t better. And news organizations including CNN must not be pieces in the latest merger game.
