Late Thursday, as rumors swirled concerning the Brown University gunman, CNN’s Kaitlan Collins used social media, noting the confusion and directing people to her network’s 9pm newscast.
Although CNN is certainly not a flawless news source, her statement resonated for numerous observers. It is one of the organizations where there exists reality-based and generally dependable reporting – notably during fast-moving events like the one taking place near a New Hampshire storage facility.
A Precarious State During a Corporate Tug-of-War
But CNN, now 45 years old, finds itself in a vulnerable position as two massive media corporations vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has been drawn into a major game of corporate ownership, instead of as a question of what serves the news-consuming public.
“Here is one more case of the fundamental flaws with roots in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The conjecture about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It is often framed as a corporate drama with powerful individuals as the central actors, but there is scant discussion of the common good,” Pickard added.
The Complicating Factor: Political Influence
The network's predicament is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Recall the shouts of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is one reason why he seems to favor Paramount Skydance, which has made a hostile bid.
There is a basis to favor that company 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.
Paramount, owner of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Future of Continued Instability
Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a independent unit. That would be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That structure could set up CNN for another sale. It never ends.
According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by regulators,” Wu stated.
The Fundamental Problem and a Way Ahead
Whatever happens regarding CNN, the larger issue endures.
“Our current system is a very structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can tackle it.
Will that happen in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Reform is a distant prospect now, but that should not imply it will never happen.
Measures that strengthen independent news organizations, reinforce local journalism, subsidize public media, and prevent the concentration of media power in a handful of hands are achievable – they are vital for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN must not be pieces in the latest acquisition battle.
