Late Thursday, while unconfirmed reports spread regarding a shooting at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Even though it is by no means a perfect news source, her message seemed accurate for numerous observers. It is one of the outlets where one can locate reality-based and generally trustworthy reporting – notably during fast-moving events such as the one developing close to a New Hampshire storage facility.
A Vulnerable Situation During a Corporate Battle
Yet the news network, now middle-aged, finds itself in a vulnerable position as two massive media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has turned into a high-stakes game of corporate ownership, not as a question of what benefits the information-seeking public.
“This is yet another example of the profound systemic issues with origins in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The debate about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It gets presented as a business story with powerful individuals as the main characters, but there is scant discussion of the common good,” Pickard added.
The Additional Layer: Political Influence
This situation is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” adversary.
Remember the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that CNN needs new ownership. You can read that as ownership that will insulate him from criticism and scrutiny. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
There is a basis to favor that company more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of More Instability
It is important to note, if Netflix is successful, 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 far from a secure position. That structure could set up CNN for yet another acquisition. The cycle continues.
If you ask Timothy Wu, a lot of this is illegal, anyway. The well-known analyst of big tech’s dominance stated that competition laws should disallow both deals.
“Either merger would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu argued.
The Bigger Challenge and a Path Forward
Whatever happens in this situation, the bigger problem endures.
“The present media landscape is a profoundly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and different policy decisions can fix it.
Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will never happen.
Initiatives that support independent news organizations, reinforce local journalism, finance public media, and prevent the accumulation of media power in very few hands are achievable – they are essential for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN shouldn’t be pawns in the latest corporate chess match.
