This past Thursday night, as rumors swirled concerning a shooting at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though CNN is certainly not a flawless news source, her words rang true for numerous observers. It remains one of the outlets where one can locate reality-based and largely trustworthy reporting – particularly during fast-moving events such as the one developing in the vicinity of a New Hampshire storage facility.
A Vulnerable Position Amid a Corporate Battle
But the news network, now four and a half decades old, finds itself in a vulnerable state as two huge media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has turned into a high-stakes game of business acquisition, not as a question of what benefits the information-seeking public.
“This is yet another example of the deep structural problems with roots in many years of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The debate about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a corporate drama with key players as the central actors, but there is hardly any discussion of the public interest,” Pickard explained.
The Additional Factor: Political Influence
This situation is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” foe.
Remember the cries of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is one reason why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor 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, owner of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of More Uncertainty
It is important to note, if Netflix wins, 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 guarantee of stability. That structure could set up CNN for another sale. It never ends.
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 anti-trust laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by the government,” Wu argued.
The Core Problem and a Potential Solution
Whatever happens in this situation, the bigger problem endures.
“Our current system is a highly anti-democratic system, but we ought not succumb to a sense of powerlessness,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can tackle it.
Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will not happen in the future.
Initiatives that support independent news organizations, bolster local journalism, subsidize public media, and prohibit the consolidation of media power in a handful of hands are within reach – they are necessary for a functioning democracy.
In the world of media ownership, bigger isn’t better. And news organizations including CNN cannot be pawns in the most recent acquisition battle.
