This past Thursday night, as rumors swirled concerning an incident at Brown University, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Although CNN is certainly not a impeccable news source, her statement rang true for numerous observers. It remains one of the broadcasters where one can locate reality-based and mostly dependable reporting – particularly during fast-moving events such as the one developing close to a New Hampshire storage facility.
A Precarious Position Amid a Business Battle
But the news network, now four and a half decades old, finds itself in a vulnerable position as two giant media corporations vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has been drawn into a major game of corporate ownership, instead of as a question of what serves the information-seeking public.
“This is yet another example of the fundamental flaws with origins in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a corporate drama with key players as the central actors, but there is very little discussion of the public interest,” Pickard said.
The Complicating Factor: Donald Trump
This situation is made more complex by Donald Trump’s opinions about a network he has consistently labeled as perhaps his primary “fake news” adversary.
Think back to the shouts of “CNN sucks!” at the president’s rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is a factor in why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to prefer that suitor more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Future of More Turmoil
Significantly, if Netflix prevails, CNN and other cable outlets would first be separated into a standalone company. This might be a relief to many at the network, but it’s far from a guarantee of stability. That structure could set up CNN for another sale. There is no finish line.
According to 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 detrimental to the country, and both should be opposed by regulators,” Wu stated.
The Core Challenge and a Way Ahead
No matter the outcome with this particular battle, the bigger problem remains.
“What we have now is a very anti-democratic system, but we must resist a sense of powerlessness,” Pickard said. Policy decisions – from the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can tackle it.
Can reform occur in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will not happen in the future.
Measures that strengthen independent news organizations, reinforce local journalism, fund public media, and prohibit the accumulation of media power in very few hands are achievable – they are necessary for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations like CNN shouldn’t be pawns in the newest merger game.
