On Thursday evening, as rumors swirled concerning a shooting at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
While it is by no means a impeccable news source, her statement rang true to many. It is one of the organizations where one can locate reality-based and mostly dependable reporting – particularly during fast-moving events like the one taking place close to a New Hampshire storage facility.
An Uncertain State Amid a Corporate Struggle
Yet the news network, now 45 years old, finds itself in a vulnerable state as two huge media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a high-risk game of business acquisition, not as a question of what benefits the news-consuming public.
“This represents another instance of the profound systemic issues with roots in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The debate about which company will control Warner Bros Discovery – is it going to 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 hardly any discussion of the public interest,” Pickard explained.
The Additional Factor: Donald Trump
The network's predicament is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” foe.
Remember the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is part of why he appears to support Paramount Skydance, which has made a unsolicited offer.
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.
Paramount, parent of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of More Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a relief to many at the network, but it’s not exactly a guarantee of stability. That setup could set up CNN for a future sale. The cycle continues.
According to Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should block both deals.
“Either merger would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Bigger Challenge and a Potential Solution
Whatever happens in this situation, the larger issue remains.
“The present media landscape is a very structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can tackle it.
Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is very unlikely now, but that is not to say it will be impossible forever.
Measures that support independent news organizations, reinforce local journalism, finance public media, and prohibit the consolidation of media power in a handful of hands are not only possible – they are vital for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN cannot be pawns in the latest corporate chess match.
