On Thursday evening, as rumors swirled about a shooting at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Even though CNN is certainly not a flawless news source, her statement seemed accurate for numerous observers. It remains one of the outlets where there exists reality-based and largely trustworthy reporting – especially during breaking news situations such as the one taking place close to a New Hampshire storage facility.
An Uncertain Situation During a High-Stakes Battle
Yet CNN, now middle-aged, finds itself in a precarious situation as two giant media empires compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a high-risk game of business acquisition, instead of as a question of what helps the information-seeking public.
“This is yet another example of the profound systemic issues with roots in decades of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a corporate drama with influential figures as the central actors, but there is scant discussion of the common good,” Pickard explained.
The Additional Element: The Former President
This situation 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 cries of “CNN sucks!” at Trump's rallies, his team's disciplinary revocation 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 shield him from negative coverage and examination. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
Trump has reason to like that suitor more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Possibility of Further Turmoil
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. That would be a relief to many at the network, but it’s hardly a guarantee of stability. That structure could set up CNN for another sale. The cycle continues.
According to Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by regulators,” Wu recently wrote.
The Fundamental Issue and a Potential Solution
Whatever happens with this particular battle, the underlying crisis endures.
“Our current system is a very structure that undermines democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Policy decisions – from the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised policy decisions can fix it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Reform is very unlikely now, but that is not to say it will never happen.
Policies that support independent news organizations, reinforce local journalism, fund public media, and prohibit the consolidation of media power in too few hands are achievable – they are essential for a functioning democracy.
Regarding media ownership, bigger isn’t better. And news organizations including CNN must not be tools in the most recent acquisition battle.
