Late Thursday, while unconfirmed reports spread regarding the Brown University gunman, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
Even though it is by no means a impeccable news source, her words rang true for a lot of people. It is one of the broadcasters where one can locate fact-based and largely reliable reporting – notably during crises like the one unfolding near a New Hampshire storage facility.
A Precarious State During a Business Struggle
However the news network, now middle-aged, finds itself in a uncertain position as two huge media empires vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has turned into a major game of corporate ownership, instead of as a question of what serves the news-consuming public.
“This represents another instance of the fundamental flaws 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 – will it be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a financial tale with influential figures as the main characters, but there is very little discussion of the public interest,” Pickard explained.
The Additional Factor: Political Influence
The network's predicament is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his primary “fake news” foe.
Think back to the shouts of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will protect him from journalistic oversight. That is one reason why he seems to support Paramount Skydance, which has made a unsolicited offer.
There is a basis to like that suitor 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, parent of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of Continued Uncertainty
It is important to note, if Netflix wins, CNN and other cable outlets would first be carved out into a separate entity. Such a move could be a welcome development to many at the network, but it’s not exactly a secure position. That arrangement could set up CNN for a future sale. There is no finish line.
According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that competition laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be contested by regulators,” Wu argued.
The Core Issue and a Way Ahead
Regardless of the resolution with this particular battle, the underlying crisis endures.
“Our current system is a very system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Policy decisions – originating in the 1930s and 1940s – helped to build this overly commercial 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? Reform is very unlikely now, but that is not to say it will be impossible forever.
Policies that bolster independent news organizations, reinforce local journalism, finance public media, and prohibit the accumulation of media power in too few hands are not only possible – they are essential for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN cannot be pieces in the latest acquisition battle.
