Late Thursday, as rumors swirled about an incident at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though it is by no means a perfect news source, her statement seemed accurate to many. It remains one of the outlets where you can find grounded and mostly dependable reporting – particularly during breaking news situations such as the one unfolding close to a New Hampshire storage facility.
A Precarious Situation During a Business Struggle
However the news network, now 45 years old, finds itself in a vulnerable state as two massive media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has turned into a high-stakes game of business acquisition, instead of as a question of what helps the news-consuming public.
“Here is one more case of the profound systemic issues with origins in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The debate about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a more important point.
“It is often framed as a financial tale with key players as the central actors, but there is very little discussion of the public interest,” Pickard said.
A Further Factor: Donald Trump
The network's predicament is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Recall the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now asserts that the network requires new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is part of why he appears to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to prefer that bidder more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of Further Uncertainty
Notably, if Netflix wins, 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 hardly a secure position. That setup could pave the way for CNN for another sale. The cycle continues.
According to Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should block both deals.
“Each proposed deal would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu recently wrote.
The Bigger Problem and a Way Ahead
No matter the outcome regarding CNN, the bigger problem persists.
“The present media landscape is a very system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and revised policy decisions can address it.
Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Change is a distant prospect now, but that should not imply it will never happen.
Initiatives that bolster independent news organizations, aid local journalism, subsidize public media, and outlaw the concentration of media power in a handful of hands are within reach – they are necessary for a robust 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.
