Late Thursday, amid swirling speculation regarding an incident at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Although it is by no means a impeccable news source, her words seemed accurate to many. It is one of the organizations where one can locate fact-based and mostly reliable reporting – especially during fast-moving events like the one taking place close to a New Hampshire storage facility.
An Uncertain Situation During a Corporate Struggle
But the news network, now middle-aged, finds itself in a precarious position as two giant media corporations vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a high-risk game of business acquisition, rather than as a question of what serves the news-consuming public.
“Here is one more case of the deep structural problems with origins in many years of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
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 central actors, but there is scant discussion of the public interest,” Pickard explained.
The Additional Element: Donald Trump
The CNN scenario is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” adversary.
Recall the shouts of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal 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. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is part of why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to prefer that company 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, owner of CBS News, also recently installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Possibility of Continued Uncertainty
Significantly, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. Such a move could be a relief to many at the network, but it’s not exactly a guarantee of stability. That setup could pave the way for CNN for another sale. There is no finish line.
In the view of Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance stated that competition laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Core Problem and a Path Forward
Whatever happens regarding CNN, the larger issue endures.
“Our current system is a profoundly system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised policy decisions can address it.
Can reform occur in an era where the head of the FCC won’t even affirm that the agency is independent? Reform is a distant prospect now, but that is not to say it will not happen in the future.
Initiatives that bolster independent news organizations, reinforce local journalism, subsidize public media, and prohibit the consolidation of media power in very few hands are achievable – they are vital for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN shouldn’t be tools in the most recent acquisition battle.
