Late Thursday, as rumors swirled about 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.
Although CNN is certainly not a perfect news source, her message seemed accurate to many. It stands as one of the organizations where there exists grounded and largely reliable reporting – notably during fast-moving events such as the one unfolding near a New Hampshire storage facility.
A Vulnerable Position Amid a Business Tug-of-War
But CNN, now 45 years old, finds itself in a precarious state as two huge media empires battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a high-risk game of business acquisition, not as a question of what helps the information-seeking public.
“This represents another instance of the profound systemic issues with roots in decades of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The debate about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a financial tale with key players as the main characters, but there is scant discussion of the common good,” Pickard explained.
A Further Factor: The Former President
The CNN scenario is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” adversary.
Think back to the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is a factor in why he appears to favor Paramount Skydance, which has made a unsolicited offer.
He has grounds to like that suitor more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Future of Further Uncertainty
Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. Such a move could be a relief to many at the network, but it’s far from a safe harbor. That setup could position CNN for another sale. There is no finish line.
According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should block both deals.
“Either merger would be bad for the country, and both should be opposed by regulators,” Wu stated.
The Core Challenge and a Potential Solution
Whatever happens with this particular battle, the larger issue remains.
“Our current system is a very structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised policy decisions can tackle it.
Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will never happen.
Measures that support independent news organizations, reinforce local journalism, fund public media, and prohibit the accumulation of media power in too few hands are within reach – they are necessary for a functioning democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN shouldn’t be tools in the newest corporate chess match.
