Late Thursday, amid swirling speculation about an incident at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though it is by no means a perfect news source, her words seemed accurate to many. It remains one of the organizations where there exists reality-based and largely trustworthy reporting – especially during crises such as the one developing close to a New Hampshire storage facility.
A Precarious State Amid a Corporate Battle
Yet CNN, now middle-aged, finds itself in a precarious state as two massive media empires compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has become part of a major game of corporate ownership, instead of as a question of what helps the information-seeking public.
“Here is one more case of the deep structural problems with roots in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“It gets presented as a financial tale with key players as the central actors, but there is scant discussion of the societal benefit,” Pickard explained.
The Complicating Layer: Donald Trump
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his primary “fake news” adversary.
Remember the shouts of “CNN sucks!” at his rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is one reason why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer that bidder more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Future of Continued Instability
It is important to note, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. That would be a welcome development to many at the network, but it’s hardly a guarantee of stability. That structure could position CNN for a future sale. It never ends.
If you ask Timothy Wu, a great deal of this is illegal, anyway. The influential voice 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 regulators,” Wu stated.
The Bigger Problem and a Potential Solution
No matter the outcome in this situation, the larger issue remains.
“Our current system is a very anti-democratic system, but we shouldn’t give in to learned helplessness,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and revised policy decisions can tackle it.
Is this likely in an era where the top communications regulator 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.
Policies that support independent news organizations, aid local journalism, subsidize public media, and prohibit the concentration of media power in very few hands are not only possible – they are vital for a functioning democracy.
Regarding media ownership, size does not equal quality. And news organizations like CNN shouldn’t be pieces in the latest acquisition battle.
