Late Thursday, amid swirling speculation concerning the Brown University gunman, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Although CNN is certainly not a flawless news source, her message resonated for numerous observers. It remains one of the broadcasters where there exists fact-based and generally dependable reporting – notably during breaking news situations like the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious State During a Business Battle
But the news network, now four and a half decades old, finds itself in a uncertain position as two giant media corporations vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a high-risk game of corporate ownership, not as a question of what serves the information-seeking public.
“This represents another instance of the fundamental flaws with roots in many years of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
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 business story with influential figures as the central actors, but there is scant discussion of the societal benefit,” Pickard explained.
The Additional Layer: Political Influence
This situation is complicated by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Recall the shouts 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 official meetings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will protect him from journalistic oversight. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
There is a basis to favor that bidder more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
An Outcome of Continued Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a independent unit. This might be a relief to many at the network, but it’s not exactly a guarantee of stability. That arrangement could pave the way for CNN for yet another acquisition. The cycle continues.
If you ask Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance stated that competition laws should disallow both deals.
“Either merger would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu recently wrote.
The Fundamental Issue and a Path Forward
Whatever happens in this situation, the bigger problem remains.
“What we have now is a highly system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised policy decisions can fix it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will not happen in the future.
Initiatives that support independent news organizations, reinforce local journalism, finance public media, and prevent the accumulation of media power in a handful of hands are achievable – they are necessary for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations such as CNN cannot be pawns in the latest corporate chess match.
