This past Thursday night, as rumors swirled concerning a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Even though it is by no means a impeccable news source, her words seemed accurate to many. It remains one of the outlets where one can locate fact-based and mostly trustworthy reporting – especially during breaking news situations like the one unfolding close to a New Hampshire storage facility.
An Uncertain State Amid a High-Stakes Battle
However CNN, now middle-aged, finds itself in a vulnerable situation as two massive media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has been drawn into a major game of corporate ownership, instead of as a question of what helps the information-seeking public.
“This represents another instance of the deep structural problems with roots in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It gets presented as a financial tale with influential figures as the central actors, but there is scant discussion of the common good,” Pickard said.
A Further Element: Political Influence
The network's predicament is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” adversary.
Recall the shouts of “CNN sucks!” at the president’s rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. You can read that as ownership that will insulate him from journalistic oversight. That is one reason why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to prefer that suitor 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, owner of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of More Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be separated into a separate entity. Such a move could be a welcome development to many at the network, but it’s far from a safe harbor. That setup could set up CNN for a future sale. The cycle continues.
According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Each proposed deal would be harmful to the country, and both should be opposed by the government,” Wu argued.
The Core Problem and a Way Ahead
Regardless of the resolution in this situation, the underlying crisis persists.
“The present media landscape is a profoundly system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Policy decisions – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new policy decisions can address it.
Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Reform is a distant prospect now, but that should not imply it will never happen.
Initiatives that strengthen independent news organizations, reinforce local journalism, finance public media, and prevent the accumulation of media power in a handful of hands are within reach – they are vital for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN must not be pawns in the most recent corporate chess match.
