On Thursday evening, while unconfirmed reports spread about the Brown University gunman, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
While CNN is certainly not a impeccable news source, her statement rang true for a lot of people. It remains one of the outlets where there exists grounded and largely dependable reporting – especially during crises like the one taking place in the vicinity of a New Hampshire storage facility.
A Vulnerable State During a Corporate Battle
But the news network, now four and a half decades old, finds itself in a precarious situation as two huge media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has turned into a high-risk game of business acquisition, instead of as a question of what helps the information-seeking public.
“Here is one more case of the deep structural problems 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 the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a financial tale with powerful individuals as the protagonists, but there is very little discussion of the societal benefit,” Pickard said.
The Complicating Factor: Political Influence
The CNN scenario is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” foe.
Recall the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is part of why he seems to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to favor that company more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
An Outcome of More Uncertainty
Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a separate entity. This might be a welcome development to many at the network, but it’s far from a guarantee of stability. That arrangement could position CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Each proposed deal would be bad for the country, and both should be challenged by the government,” Wu stated.
The Bigger Issue and a Path Forward
Whatever happens with this particular battle, the underlying crisis endures.
“What we have now is a very anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Policy decisions – originating in the 1930s and 1940s – helped to build this profit-obsessed 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? Reform is very unlikely now, but that is not to say it will be impossible forever.
Initiatives that support independent news organizations, bolster local journalism, subsidize public media, and prevent the accumulation of media power in too few hands are within reach – they are vital for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations such as CNN cannot be tools in the most recent corporate chess match.
