Late Thursday, while unconfirmed reports spread concerning the Brown University gunman, CNN’s Kaitlan Collins used social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Even though it is by no means a flawless news source, her statement rang true to many. It is one of the outlets where there exists grounded and largely dependable reporting – notably during breaking news situations like the one developing close to a New Hampshire storage facility.
An Uncertain State Amid a High-Stakes Battle
However the news network, now four and a half decades old, finds itself in a uncertain position as two huge media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has become part of a high-risk game of corporate ownership, instead of as a question of what serves the information-seeking public.
“This represents another instance of the deep structural problems with roots in decades of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.
“The narrative is crafted as a financial tale with powerful individuals as the main characters, but there is hardly any discussion of the societal benefit,” Pickard added.
The Complicating Factor: Donald Trump
The CNN scenario is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his primary “fake news” antagonist.
Recall the chants of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is part of why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
There is a basis to like that company more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Possibility of Continued Instability
Notably, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. That would be a relief to many at the network, but it’s hardly a guarantee of stability. That setup could pave the way for CNN for a future sale. It never ends.
In the view of Timothy Wu, a great deal of this is illegal, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by regulators,” Wu argued.
The Fundamental Challenge and a Way Ahead
Whatever happens regarding CNN, the larger issue remains.
“The present media landscape is a profoundly structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard emphasized. Government actions – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised policy decisions can fix it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Change is highly improbable now, but that doesn’t mean it will be impossible forever.
Initiatives that strengthen independent news organizations, reinforce local journalism, subsidize public media, and outlaw the accumulation of media power in a handful of hands are within reach – they are essential for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN must not be pieces in the most recent acquisition battle.
