On Thursday evening, while unconfirmed reports spread about the Brown University gunman, CNN’s Kaitlan Collins took to social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Although CNN is certainly not a impeccable news source, her statement resonated for a lot of people. It stands as one of the outlets where one can locate reality-based and mostly dependable reporting – especially during crises like the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain Position During a Corporate Battle
Yet CNN, now middle-aged, finds itself in a precarious state as two massive media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a high-risk game of mergers and acquisitions, rather than as a question of what serves the news-consuming public.
“Here is one more case of the deep structural problems with origins in many years of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a financial tale with powerful individuals as the main characters, but there is hardly any discussion of the public interest,” Pickard said.
A Further Factor: Donald Trump
This situation is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” foe.
Remember the shouts of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will shield 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.
Trump has reason to favor that suitor 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.
Paramount, parent of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of Continued Instability
Significantly, if Netflix is successful, CNN and other cable outlets would first be carved out into a separate entity. Such a move could be a relief to many at the network, but it’s hardly a guarantee of stability. That setup could pave the way for CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, a great deal of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu recently wrote.
The Core Problem and a Way Ahead
Regardless of the resolution regarding CNN, the larger issue remains.
“Our current system is a highly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and revised policy decisions can tackle it.
Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will not happen in the future.
Measures that bolster independent news organizations, aid local journalism, finance public media, and prevent the accumulation of media power in a handful of hands are not only possible – they are necessary for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN shouldn’t be pieces in the newest corporate chess match.
