On Thursday evening, while unconfirmed reports spread regarding the Brown University gunman, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
While the network is hardly a flawless news source, her statement resonated for numerous observers. It remains one of the organizations where one can locate grounded and largely dependable reporting – notably during fast-moving events such as the one developing near a New Hampshire storage facility.
A Precarious Situation Amid a Business Battle
But CNN, now 45 years old, finds itself in a vulnerable position as two giant media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has become part of a high-stakes game of business acquisition, not as a question of what benefits the information-seeking public.
“Here is one more case of the fundamental flaws with origins in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a larger point.
“The narrative is crafted as a corporate drama with powerful individuals as the central actors, but there is hardly any discussion of the public interest,” Pickard added.
The Complicating Layer: Donald Trump
The network's predicament is complicated by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his primary “fake news” foe.
Think back to the chants of “CNN sucks!” at his rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will insulate him from criticism and scrutiny. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
There is a basis to favor that bidder 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 placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that storied news network.
A Possibility of More Turmoil
Notably, if Netflix wins, CNN and other cable outlets would first be separated into a separate entity. This might be a relief to many at the network, but it’s hardly a guarantee of stability. That structure could set up CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Either merger would be bad for the country, and both should be opposed by the government,” Wu stated.
The Bigger Problem and a Path Forward
Regardless of the resolution in this situation, the larger issue persists.
“The present media landscape is a profoundly structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Government actions – from the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can address it.
Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Change is highly improbable now, but that should not imply it will not happen in the future.
Measures that support independent news organizations, reinforce local journalism, finance public media, and prevent the consolidation of media power in very few hands are not only possible – they are vital for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN cannot be pieces in the newest acquisition battle.
