Late Thursday, amid swirling speculation regarding a shooting at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Even though it is by no means a impeccable news source, her statement seemed accurate to many. It remains one of the organizations where there exists grounded and mostly reliable reporting – notably during crises like the one unfolding in the vicinity of a New Hampshire storage facility.
An Uncertain Situation Amid a Corporate Struggle
However CNN, now 45 years old, finds itself in a uncertain position as two huge media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has turned into a major game of business acquisition, instead of as a question of what serves the information-seeking public.
“This represents another instance of the deep structural problems with origins in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a business story with influential figures as the protagonists, but there is scant discussion of the societal benefit,” Pickard explained.
The Additional Layer: The Former President
The network's predicament is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” foe.
Remember the chants of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is part of why he appears to favor Paramount Skydance, which has made a hostile bid.
He has grounds to prefer that bidder 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.
The company, parent of CBS News, also recently installed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of More Uncertainty
It is important to note, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. That would be a welcome development to many at the network, but it’s far from a secure position. That setup could pave the way for CNN for another sale. The cycle continues.
In the view of Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should disallow both deals.
“Each proposed deal would be harmful to the country, and both should be contested by anti-trust authorities,” Wu stated.
The Fundamental Issue and a Way Ahead
Whatever happens with this particular battle, the bigger problem remains.
“The present media landscape is a very system hostile to democracy, but we must resist learned helplessness,” Pickard noted. Government actions – originating in the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can address it.
Is this likely in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Change is a distant prospect now, but that doesn’t mean it will never happen.
Policies that support independent news organizations, aid local journalism, subsidize public media, and prohibit the accumulation of media power in too few hands are achievable – they are essential for a robust democracy.
In the world of media ownership, size does not equal quality. And news organizations including CNN shouldn’t be pawns in the most recent acquisition battle.
