Late Thursday, amid swirling speculation concerning a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Even though it is by no means a flawless news source, her words resonated to many. It stands as one of the broadcasters where there exists fact-based and mostly reliable reporting – notably during fast-moving events like the one taking place close to a New Hampshire storage facility.
A Precarious Situation During a Corporate Battle
But the news network, now four and a half decades old, finds itself in a precarious state as two massive media empires vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a major game of business acquisition, not as a question of what benefits the news-consuming public.
“This represents another instance of the fundamental flaws with roots in decades of governmental choices,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The debate about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a more important point.
“The narrative is crafted as a business story with influential figures as the protagonists, but there is scant discussion of the common good,” Pickard explained.
The Complicating Layer: Political Influence
This situation is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” foe.
Recall the cries of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring 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 negative coverage and examination. That is part of why he appears to support Paramount Skydance, which has made a unsolicited offer.
Trump has reason to like that suitor more. For one thing, it is run 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 placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of Continued Instability
Notably, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. This might be a relief to many at the network, but it’s not exactly a secure position. That setup could position CNN for yet another acquisition. The cycle continues.
In the view of Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that competition laws should disallow both deals.
“Either merger would be bad for the country, and both should be opposed by regulators,” Wu argued.
The Bigger Issue and a Potential Solution
Regardless of the resolution in this situation, the underlying crisis remains.
“Our current system is a profoundly system hostile to democracy, but we must resist a sense of powerlessness,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can fix it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is very unlikely now, but that is not to say it will never happen.
Measures that bolster independent news organizations, bolster local journalism, finance public media, and prevent the concentration of media power in very few hands are achievable – they are necessary for a robust democracy.
When it comes to media ownership, size does not equal quality. And news organizations like CNN cannot be pieces in the latest acquisition battle.
