On Thursday evening, while unconfirmed reports spread about the Brown University gunman, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Even though it is by no means a perfect news source, her message resonated for numerous observers. It is one of the organizations where you can find fact-based and generally reliable reporting – notably during breaking news situations like the one taking place close to a New Hampshire storage facility.
A Precarious Position Amid a Corporate Struggle
However the news network, now middle-aged, finds itself in a precarious state as two huge media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has turned into a high-risk game of business acquisition, rather than as a question of what helps the information-seeking public.
“This represents another instance of the deep structural problems with roots in many years of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It gets presented as a financial tale with powerful individuals as the main characters, but there is scant discussion of the public interest,” Pickard added.
The Complicating Element: The Former President
This situation is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” antagonist.
Remember the chants of “CNN sucks!” at Trump's rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is a factor in why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to favor that suitor 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, owner of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Possibility of Further Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a welcome development to many at the network, but it’s not exactly a safe harbor. That arrangement could pave the way for CNN for another sale. The cycle continues.
According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Each proposed deal would be harmful to the country, and both should be opposed by the government,” Wu stated.
The Core Challenge and a Way Ahead
No matter the outcome with this particular battle, the bigger problem persists.
“The present media landscape is a very structure that undermines democracy, but we ought not succumb to learned helplessness,” Pickard noted. Policy decisions – originating in the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can address it.
Will that happen in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will never happen.
Policies that support independent news organizations, reinforce local journalism, finance public media, and outlaw the accumulation of media power in a handful of hands are achievable – they are essential for a functioning democracy.
Regarding media ownership, size does not equal quality. And news organizations like CNN cannot be pawns in the newest acquisition battle.
