This past Thursday night, amid swirling speculation concerning a shooting at Brown University, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
While CNN is certainly not a impeccable news source, her statement resonated for numerous observers. It stands as one of the broadcasters where one can locate reality-based and generally trustworthy reporting – especially during breaking news situations such as the one developing close to a New Hampshire storage facility.
A Vulnerable Situation During a Business Tug-of-War
Yet the news network, now 45 years old, finds itself in a uncertain position as two giant media corporations vie for ownership of its corporate owner, 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 helps the news-consuming public.
“Here is one more case of the fundamental flaws with origins in decades of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a corporate drama with influential figures as the central actors, but there is scant discussion of the societal benefit,” Pickard explained.
A Further Element: Donald Trump
The network's predicament is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” foe.
Remember the shouts of “CNN sucks!” at the president’s rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. That is part of why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.
He has grounds to like that bidder more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Future of Further Turmoil
Significantly, if Netflix is successful, CNN and other cable outlets would first be spun off into a separate entity. That would be a welcome development to many at the network, but it’s hardly a safe harbor. That structure could position CNN for another sale. It never ends.
If you ask 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 challenged by regulators,” Wu stated.
The Core Problem and a Way Ahead
Whatever happens in this situation, the underlying crisis endures.
“What we have now is a highly anti-democratic system, but we shouldn’t give in to learned helplessness,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new policy decisions can fix it.
Can reform occur in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will not happen in the future.
Policies that bolster independent news organizations, reinforce local journalism, fund public media, and prohibit the concentration of media power in a handful of hands are within reach – they are essential for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN cannot be pawns in the most recent corporate chess match.
