Late Thursday, amid swirling speculation regarding the Brown University gunman, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Although the network is hardly a impeccable news source, her statement resonated to many. It remains one of the broadcasters where there exists grounded and generally dependable reporting – notably during breaking news situations like the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable State Amid a Business Battle
Yet CNN, now four and a half decades old, finds itself in a uncertain situation as two giant media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a high-stakes game of mergers and acquisitions, rather than as a question of what benefits the news-consuming public.
“This represents another instance of the deep structural problems with origins in many years of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a corporate drama with powerful individuals as the main characters, but there is very little discussion of the public interest,” Pickard explained.
A Further Factor: Political Influence
This situation is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Think back to the cries of “CNN sucks!” at the president’s rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is part of why he appears to support Paramount Skydance, which has made a hostile bid.
He has grounds to prefer 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.
The company, owner of CBS News, also recently appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of More Turmoil
It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s hardly a safe harbor. That setup could position CNN for a future sale. It never ends.
If you ask Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by the government,” Wu stated.
The Core Challenge and a Way Ahead
Whatever happens regarding CNN, the larger issue persists.
“Our current system is a very system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and new policy decisions can address it.
Can reform occur in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is a distant prospect now, but that doesn’t mean it will never happen.
Measures that bolster independent news organizations, reinforce local journalism, finance public media, and prevent the consolidation of media power in a handful of hands are not only possible – they are necessary for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be tools in the latest acquisition battle.
