This past Thursday night, as rumors swirled concerning a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and directing people to her network’s 9pm newscast.
Even though the network is hardly a impeccable news source, her statement rang true to many. It is one of the outlets where there exists reality-based and mostly dependable reporting – notably during breaking news situations like the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain Situation During a Business Tug-of-War
But the news network, now 45 years old, finds itself in a precarious situation as two massive media empires battle over ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has been drawn into a high-stakes game of corporate ownership, not as a question of what serves the news-consuming public.
“Here is one more case of the deep structural problems with roots in decades of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The conjecture about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“It gets presented as a business story with key players as the main characters, but there is very little discussion of the societal benefit,” Pickard added.
The Additional Element: Donald Trump
This situation is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” antagonist.
Think back to the cries of “CNN sucks!” at the president’s rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is a factor in why he seems to support Paramount Skydance, which has made a hostile bid.
There is a basis to like that bidder more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of More Turmoil
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. That would be a welcome development to many at the network, but it’s hardly a secure position. That arrangement could position CNN for a future sale. The cycle continues.
According to Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by anti-trust authorities,” Wu argued.
The Core Issue and a Way Ahead
Whatever happens with this particular battle, the larger issue endures.
“Our current system is a highly system hostile to democracy, but we must resist the belief that change is impossible,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can tackle it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is very unlikely now, but that is not to say it will never happen.
Policies that strengthen independent news organizations, aid local journalism, fund public media, and prevent the consolidation of media power in a handful of hands are achievable – they are essential for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN shouldn’t be pieces in the latest merger game.
