This past Thursday night, while unconfirmed reports spread regarding an incident at Brown University, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
Although CNN is certainly not a impeccable news source, her words rang true to many. It remains one of the broadcasters where one can locate fact-based and generally trustworthy reporting – particularly during fast-moving events such as the one taking place close to a New Hampshire storage facility.
A Vulnerable Situation During a Business Battle
Yet the news network, now four and a half decades old, finds itself in a vulnerable situation as two massive media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a high-stakes game of business acquisition, not as a question of what benefits the news-consuming public.
“Here is one more case of the deep structural problems with origins in decades of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a financial tale with influential figures as the central actors, but there is hardly any discussion of the public interest,” Pickard said.
A Further Element: Donald Trump
This situation is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” foe.
Think back to the shouts 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 one reason why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to favor that bidder more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Possibility of More Uncertainty
It is important to note, if Netflix wins, CNN and other cable outlets would first be carved out into a separate entity. Such a move could be a welcome development to many at the network, but it’s far from a guarantee of stability. That arrangement could position CNN for a future sale. It never ends.
According to Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should disallow both deals.
“Each proposed deal would be harmful to the country, and both should be opposed by regulators,” Wu stated.
The Bigger Issue and a Way Ahead
Whatever happens regarding CNN, the underlying crisis endures.
“The present media landscape is a very system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can fix it.
Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that doesn’t mean it will never happen.
Policies that bolster independent news organizations, aid local journalism, finance public media, and prevent the accumulation of media power in too few hands are within reach – they are vital for a robust democracy.
In the world of media ownership, bigger isn’t better. And news organizations such as CNN cannot be pieces in the latest acquisition battle.
