On Thursday evening, amid swirling speculation about a shooting at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
Even though CNN is certainly not a flawless news source, her words seemed accurate for a lot of people. It stands as one of the outlets where one can locate reality-based and mostly dependable reporting – especially during fast-moving events such as the one developing close to a New Hampshire storage facility.
A Vulnerable State During a Business Struggle
Yet the news network, now 45 years old, finds itself in a vulnerable situation as two giant media corporations battle over 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 serves the information-seeking public.
“This is yet another example of the profound systemic issues with roots in many years of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The conjecture about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a corporate drama with powerful individuals as the main characters, but there is hardly any discussion of the common good,” Pickard added.
The Complicating Layer: Political Influence
The CNN scenario is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” adversary.
Think back to the shouts of “CNN sucks!” at his rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is one reason why he seems to support Paramount Skydance, which has made a unsolicited offer.
There is a basis to like that company 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.
The company, owner of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
An Outcome of Continued Turmoil
Significantly, if Netflix is successful, 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 secure position. That arrangement could position CNN for another sale. The cycle continues.
According to Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by the government,” Wu argued.
The Core Issue and a Path Forward
Regardless of the resolution in this situation, the larger issue remains.
“Our current system is a very system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can address it.
Can reform occur in an era where the top communications regulator will not confirm that the agency is independent? Change is very unlikely now, but that is not to say it will be impossible forever.
Policies that support independent news organizations, bolster local journalism, fund public media, and prohibit the consolidation of media power in too few hands are achievable – they are vital for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations such as CNN shouldn’t be pieces in the most recent acquisition battle.
