Late Thursday, as rumors swirled concerning the Brown University gunman, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
While CNN is certainly not a flawless news source, her statement rang true for a lot of people. It stands as one of the organizations where there exists fact-based and generally reliable reporting – especially during crises such as the one unfolding close to a New Hampshire storage facility.
A Precarious State During a Business Tug-of-War
Yet the news network, now four and a half decades old, finds itself in a uncertain state as two giant media corporations compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has become part of a major game of business acquisition, not as a question of what benefits the news-consuming public.
“Here is one more case of the deep structural problems with roots in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a financial tale with influential figures as the protagonists, but there is scant discussion of the societal benefit,” Pickard said.
The Additional Element: The Former President
The network's predicament is made more complex by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” antagonist.
Remember the shouts of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will protect him from journalistic oversight. That is a factor in why he seems to come down on the side of Paramount Skydance, which has made a unsolicited offer.
There is a basis to prefer that suitor more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Future of More Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. This might be a relief to many at the network, but it’s far from a guarantee of stability. That setup could pave the way for CNN for another sale. There is no finish line.
According to Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Either merger would be harmful to the country, and both should be opposed by regulators,” Wu recently wrote.
The Bigger Challenge and a Way Ahead
No matter the outcome in this situation, the bigger problem remains.
“The present media landscape is a profoundly structure that undermines democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Government actions – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and revised policy decisions can tackle it.
Is this likely in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will never happen.
Policies that strengthen independent news organizations, aid local journalism, fund public media, and prevent the concentration of media power in too few hands are within reach – they are necessary for a robust democracy.
In the world of media ownership, size does not equal quality. And news organizations such as CNN cannot be tools in the newest corporate chess match.
