On Thursday evening, amid swirling speculation about the Brown University gunman, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Even though it is by no means a flawless news source, her statement seemed accurate for numerous observers. It stands as one of the outlets where one can locate reality-based and largely reliable reporting – particularly during fast-moving events like the one developing in the vicinity of a New Hampshire storage facility.
A Vulnerable Position Amid a Business Battle
Yet CNN, now 45 years old, finds itself in a uncertain state as two huge media empires vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has been drawn into a high-risk game of corporate ownership, rather than as a question of what helps the news-consuming public.
“This represents another instance of the profound systemic issues with origins in decades of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a financial tale with influential figures as the central actors, but there is scant discussion of the public interest,” Pickard explained.
The Complicating Element: The Former President
The CNN scenario is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Recall the cries of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is one reason why he appears to favor Paramount Skydance, which has made a hostile bid.
Trump has reason to like that company more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of Continued Uncertainty
Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a welcome development to many at the network, but it’s far from a secure position. That structure could set up CNN for a future sale. It never ends.
In the view of Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance stated that competition laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by the government,” Wu recently wrote.
The Fundamental Problem and a Way Ahead
Regardless of the resolution regarding CNN, the bigger problem endures.
“The present media landscape is a very system hostile to democracy, but we must resist a sense of powerlessness,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can address it.
Can reform occur in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will be impossible forever.
Initiatives that strengthen independent news organizations, aid local journalism, fund public media, and outlaw the consolidation of media power in too few hands are within reach – they are vital for a robust democracy.
Regarding media ownership, bigger isn’t better. And news organizations such as CNN cannot be pawns in the latest acquisition battle.
