On Thursday evening, amid swirling speculation about the Brown University gunman, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
While CNN is certainly not a perfect news source, her words rang true for numerous observers. It is one of the outlets where one can locate reality-based and generally reliable reporting – notably during crises like the one taking place near a New Hampshire storage facility.
An Uncertain Position Amid a Corporate Tug-of-War
Yet the news network, now 45 years old, finds itself in a vulnerable situation as two huge media empires vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has turned into a high-stakes game of mergers and acquisitions, instead of as a question of what benefits the news-consuming public.
“This is yet another example of the fundamental flaws with roots in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The debate about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It gets presented as a financial tale with key players as the main characters, but there is scant discussion of the societal benefit,” Pickard explained.
The Additional Element: Political Influence
The network's predicament is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his chief “fake news” antagonist.
Recall the shouts of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is a factor in why he seems to favor Paramount Skydance, which has made a hostile bid.
Trump has reason to prefer that suitor more. For one thing, it is led by David Ellison, son of the pro-Trump 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 historic news network.
A Possibility of Continued Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a separate entity. That would be a relief to many at the network, but it’s not exactly a guarantee of stability. That setup could position CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by the government,” Wu stated.
The Fundamental Issue and a Path Forward
No matter the outcome regarding CNN, the bigger problem endures.
“The present media landscape is a very anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can tackle it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will not happen in the future.
Policies that bolster independent news organizations, reinforce local journalism, subsidize public media, and prohibit the concentration of media power in very few hands are achievable – they are vital for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations such as CNN cannot be tools in the most recent corporate chess match.
