Late Thursday, while unconfirmed reports spread regarding an incident at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Although CNN is certainly not a flawless news source, her words seemed accurate for a lot of people. It is one of the outlets where one can locate reality-based and largely trustworthy reporting – notably during crises such as the one taking place in the vicinity of a New Hampshire storage facility.
A Vulnerable Position During a Corporate Struggle
But CNN, now middle-aged, finds itself in a uncertain position as two massive media corporations compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has been drawn into a high-risk game of business acquisition, not as a question of what helps the news-consuming public.
“This is yet another example of the profound systemic issues with origins in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The conjecture about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a business story with powerful individuals as the central actors, but there is very little discussion of the public interest,” Pickard added.
The Additional Layer: Political Influence
The CNN scenario is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” adversary.
Remember the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is one reason why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like that suitor 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, parent of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Future of More Uncertainty
It is important to note, if Netflix wins, CNN and other cable outlets would first be carved out into a independent unit. That would be a welcome development to many at the network, but it’s far from a safe harbor. That setup could pave the way for CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, a lot of this is illegal, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by regulators,” Wu stated.
The Core Challenge and a Potential Solution
Regardless of the resolution with this particular battle, the bigger problem persists.
“What we have now is a highly system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and different 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 should not imply it will not happen in the future.
Initiatives that support independent news organizations, reinforce local journalism, fund public media, and outlaw the consolidation of media power in very few hands are within reach – they are vital for a robust democracy.
When it comes to media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be pieces in the most recent acquisition battle.
