Late Thursday, amid swirling speculation regarding a shooting at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and guiding the public to her channel's 9pm newscast.
Even though the network is hardly a perfect news source, her message resonated for numerous observers. It remains one of the organizations where one can locate reality-based and generally reliable reporting – notably during breaking news situations such as the one unfolding close to a New Hampshire storage facility.
An Uncertain Situation During a Corporate Tug-of-War
But CNN, now middle-aged, finds itself in a precarious position as two giant media corporations compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has become part of a high-stakes game of corporate ownership, not as a question of what benefits the news-consuming public.
“This is yet another example of the deep structural problems with roots in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The debate about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“The narrative is crafted as a corporate drama with powerful individuals as the protagonists, but there is hardly any discussion of the public interest,” Pickard explained.
The Complicating Layer: The Former President
The CNN scenario is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his chief “fake news” foe.
Recall the shouts of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now claims that CNN needs new ownership. You can read that as ownership that will shield him from negative coverage and examination. That is one reason why he appears to support Paramount Skydance, which has made a unsolicited offer.
Trump has reason 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.
The company, parent of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
An Outcome of More Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. This might be a relief to many at the network, but it’s not exactly a guarantee of stability. That arrangement could position CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance stated that competition laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by the government,” Wu stated.
The Fundamental Challenge and a Way Ahead
Regardless of the resolution regarding CNN, the bigger problem remains.
“The present media landscape is a highly anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can fix it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will not happen in the future.
Initiatives that support independent news organizations, bolster local journalism, fund public media, and prevent the consolidation of media power in a handful of hands are achievable – they are necessary for a functioning democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN shouldn’t be tools in the newest merger game.
