On Thursday evening, while unconfirmed reports spread regarding a shooting at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Even though the network is hardly a flawless news source, her statement seemed accurate for numerous observers. It stands as one of the outlets where one can locate fact-based and generally reliable reporting – notably during breaking news situations like the one developing in the vicinity of a New Hampshire storage facility.
A Vulnerable Position During a Corporate Tug-of-War
But CNN, now middle-aged, finds itself in a vulnerable situation as two giant media empires vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has turned into a high-risk game of corporate ownership, not as a question of what benefits the information-seeking public.
“This represents another instance of the fundamental flaws with origins in decades of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a business story with key players as the main characters, but there is scant discussion of the societal benefit,” Pickard said.
A Further Factor: Political Influence
This situation is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his primary “fake news” adversary.
Think back to the shouts of “CNN sucks!” at the president’s rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. You can read that as ownership that will protect him from journalistic oversight. That is part of why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to favor 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, owner of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that storied news network.
An Outcome of Continued Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. That would be a relief to many at the network, but it’s far from a secure position. That setup could pave the way for CNN for yet another acquisition. The cycle continues.
If you ask Timothy Wu, a great deal of this is against the law, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Each proposed deal would be bad for the country, and both should be contested by the government,” Wu argued.
The Core Challenge and a Path Forward
Regardless of the resolution with this particular battle, the underlying crisis remains.
“Our current system is a profoundly system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and revised policy decisions can fix it.
Can reform occur in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that is not to say it will not happen in the future.
Policies that bolster independent news organizations, aid local journalism, finance public media, and prevent the accumulation of media power in very few hands are achievable – they are vital for a functioning democracy.
Regarding media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be pieces in the newest acquisition battle.
