On Thursday evening, as rumors swirled about the Brown University gunman, CNN’s Kaitlan Collins used 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 statement rang true for a lot of people. It is one of the broadcasters where there exists fact-based and mostly dependable reporting – especially during fast-moving events such as the one taking place in the vicinity of a New Hampshire storage facility.
A Vulnerable Situation Amid a High-Stakes Tug-of-War
However the news network, now 45 years old, finds itself in a precarious situation as two giant media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a high-stakes game of business acquisition, instead of as a question of what serves the information-seeking public.
“This represents another instance of the fundamental flaws with roots in decades of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a corporate drama with powerful individuals as the protagonists, but there is hardly any discussion of the common good,” Pickard explained.
The Additional Element: The Former President
The network's predicament is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” foe.
Recall the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is a factor in why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to favor that bidder more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of Continued Instability
Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. This might be a welcome development to many at the network, but it’s not exactly a safe harbor. That arrangement could pave the way for CNN for yet another acquisition. The cycle continues.
If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.
“Each proposed deal would be bad for the country, and both should be opposed by regulators,” Wu stated.
The Fundamental Issue and a Path Forward
Regardless of the resolution in this situation, the underlying crisis remains.
“The present media landscape is a highly system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can tackle it.
Can reform occur in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is very unlikely now, but that should not imply it will not happen in the future.
Measures that bolster independent news organizations, reinforce local journalism, finance public media, and prohibit the concentration of media power in very few hands are within reach – they are essential for a robust democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN must not be pieces in the latest merger game.
