Late Thursday, as rumors swirled about a shooting at Brown University, CNN’s Kaitlan Collins used 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 statement resonated for numerous observers. It is one of the outlets where there exists fact-based and generally reliable reporting – especially during breaking news situations like the one unfolding close to a New Hampshire storage facility.
A Precarious Situation Amid a Corporate Tug-of-War
Yet CNN, now four and a half decades old, finds itself in a vulnerable state as two massive media empires vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has become part of a high-risk game of business acquisition, instead of as a question of what helps the news-consuming public.
“This represents another instance of the fundamental flaws with origins in decades of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a corporate drama with influential figures as the central actors, but there is scant discussion of the public interest,” Pickard added.
A Further Layer: Donald Trump
This situation is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” foe.
Remember the cries of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is a factor in why he seems to favor Paramount Skydance, which has made a unsolicited offer.
He has grounds to prefer that bidder 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, parent of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Future of Further Instability
Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. Such a move could be a welcome development to many at the network, but it’s not exactly a secure position. That setup could pave the way for CNN for yet another acquisition. The cycle continues.
If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by the government,” Wu argued.
The Fundamental Problem and a Way Ahead
Regardless of the resolution in this situation, the larger issue endures.
“Our current system is a highly anti-democratic system, but we ought not succumb to learned helplessness,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can tackle it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is highly improbable now, but that doesn’t mean it will not happen in the future.
Policies that bolster independent news organizations, reinforce local journalism, subsidize public media, and outlaw the accumulation of media power in very few hands are not only possible – they are essential for a functioning democracy.
In the world of media ownership, bigger isn’t better. And news organizations such as CNN cannot be tools in the most recent corporate chess match.
