Late Thursday, as rumors swirled regarding a shooting at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
While CNN is certainly not a flawless news source, her statement resonated to many. It remains one of the outlets where you can find fact-based and mostly dependable reporting – particularly during crises such as the one taking place near a New Hampshire storage facility.
An Uncertain Position Amid a Corporate Tug-of-War
But CNN, now middle-aged, finds itself in a precarious situation as two massive media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has turned into a major game of mergers and acquisitions, rather than as a question of what benefits the news-consuming public.
“Here is one more case of the fundamental flaws with roots in decades of regulatory actions,” noted 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? – misses a broader point.
“It gets presented as a financial tale with influential figures as the protagonists, but there is very little discussion of the societal benefit,” Pickard said.
A Further Factor: Donald Trump
The network's predicament is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” antagonist.
Remember the cries of “CNN sucks!” at the president’s rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will insulate him from criticism and scrutiny. That is a factor in why he appears to support Paramount Skydance, which has made a unsolicited offer.
There is a basis to prefer that company more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Possibility of Continued Turmoil
It is important to note, if Netflix prevails, CNN and other cable outlets would first be separated into a separate entity. Such a move could be a welcome development to many at the network, but it’s hardly a secure position. That arrangement could pave the way for CNN for another sale. There is no finish line.
If you ask Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Each proposed deal would be detrimental to the country, and both should be challenged by regulators,” Wu stated.
The Core Issue and a Potential Solution
Regardless of the resolution regarding CNN, the bigger problem persists.
“The present media landscape is a highly anti-democratic system, but we must resist learned helplessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can address it.
Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will not happen in the future.
Initiatives that strengthen independent news organizations, aid local journalism, subsidize public media, and outlaw the consolidation of media power in a handful of hands are within reach – they are necessary for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN cannot be tools in the most recent corporate chess match.
