On Thursday evening, while unconfirmed reports spread 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 channel's 9pm newscast.
Even though CNN is certainly not a perfect news source, her words resonated for a lot of people. It stands as one of the organizations where there exists reality-based and largely trustworthy reporting – particularly during fast-moving events like the one developing close to a New Hampshire storage facility.
An Uncertain Situation During a High-Stakes Tug-of-War
Yet CNN, now middle-aged, finds itself in a precarious state as two massive media corporations battle over 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, not as a question of what helps the news-consuming public.
“This is yet another example of the fundamental flaws with origins in many years of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The conjecture about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a corporate drama with influential figures as the main characters, but there is very little discussion of the common good,” Pickard said.
The Additional Factor: Political Influence
This situation is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” adversary.
Recall the cries of “CNN sucks!” at Trump's rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will insulate him from criticism and scrutiny. That is part of why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to prefer that suitor more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Possibility of Continued Uncertainty
It is important to note, if Netflix is successful, CNN and other cable outlets would first be separated into a standalone company. This might be a relief to many at the network, but it’s far from a secure position. That arrangement could position CNN for yet another acquisition. It never ends.
According to Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Each proposed deal would be bad for the country, and both should be challenged by anti-trust authorities,” Wu recently wrote.
The Bigger Issue and a Way Ahead
Regardless of the resolution in this situation, the underlying crisis endures.
“The present media landscape is a very anti-democratic system, but we must resist learned helplessness,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to foster this overly commercial monster, and revised policy decisions can address it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is highly improbable now, but that should not imply it will be impossible forever.
Policies that strengthen independent news organizations, aid local journalism, fund public media, and prohibit the concentration of media power in very few hands are within reach – they are essential for a functioning democracy.
In the world of media ownership, larger is not superior. And news organizations like CNN cannot be tools in the most recent acquisition battle.
