This past Thursday night, amid swirling speculation regarding the Brown University gunman, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
While it is by no means a impeccable news source, her words rang true for numerous observers. It remains one of the broadcasters where you can find fact-based and generally trustworthy reporting – particularly during fast-moving events such as the one developing near a New Hampshire storage facility.
A Vulnerable Position Amid a Corporate Battle
Yet CNN, now middle-aged, finds itself in a vulnerable position as two huge media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a high-risk game of business acquisition, not as a question of what benefits the news-consuming public.
“This is yet another example of the deep structural problems with origins in many years of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a corporate drama with powerful individuals as the central actors, but there is hardly any discussion of the societal benefit,” Pickard said.
A Further Element: The Former President
The network's predicament is further muddied by Donald Trump’s opinions about a network he has consistently labeled as perhaps his main “fake news” adversary.
Recall the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. That is one reason why he appears to favor Paramount Skydance, which has made a unsolicited offer.
He has grounds to favor 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.
The company, owner of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Future of Continued Instability
Notably, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. This might be a welcome development to many at the network, but it’s hardly a secure position. That setup could position CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that competition laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be challenged by regulators,” Wu argued.
The Core Challenge and a Potential Solution
No matter the outcome regarding CNN, the bigger problem persists.
“What we have now is a profoundly system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Policy decisions – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and revised policy decisions can address it.
Will that happen in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will not happen in the future.
Policies that bolster independent news organizations, aid local journalism, subsidize public media, and outlaw the accumulation of media power in very few hands are within reach – they are necessary for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations such as CNN shouldn’t be tools in the newest corporate chess match.
