Late Thursday, as rumors swirled concerning the Brown University gunman, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Although it is by no means a flawless news source, her words rang true for a lot of people. It stands as one of the organizations where you can find grounded and generally trustworthy reporting – especially during breaking news situations such as the one taking place close to a New Hampshire storage facility.
A Vulnerable State During a Business Tug-of-War
Yet CNN, now middle-aged, finds itself in a vulnerable position as two massive media empires battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has become part of a high-stakes game of corporate ownership, not as a question of what benefits the information-seeking public.
“This represents another instance of the deep structural problems with roots in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The conjecture about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a larger point.
“The narrative is crafted as a corporate drama with powerful individuals as the central actors, but there is very little discussion of the common good,” Pickard added.
The Complicating Factor: Donald Trump
This situation 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 team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is part of why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like that bidder more. For one thing, it is controlled 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 appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Future of Further Instability
Significantly, if Netflix prevails, 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 secure position. That setup could pave the way for CNN for yet another acquisition. It never ends.
In the view of Timothy Wu, a great deal of this is illegal, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Each proposed deal would be bad for the country, and both should be contested by the government,” Wu stated.
The Bigger Issue and a Way Ahead
No matter the outcome with this particular battle, the bigger problem endures.
“Our current system is a very structure that undermines democracy, but we ought not succumb to learned helplessness,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can fix it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Change is a distant prospect now, but that should not imply it will never happen.
Policies that bolster independent news organizations, reinforce local journalism, subsidize public media, and prevent the accumulation of media power in a handful of hands are within reach – they are essential for a functioning democracy.
Regarding media ownership, bigger isn’t better. And news organizations including CNN cannot be pieces in the latest corporate chess match.
