Late Thursday, as rumors swirled regarding the Brown University gunman, CNN’s Kaitlan Collins used social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
Even though CNN is certainly not a flawless news source, her statement seemed accurate for a lot of people. It stands as one of the broadcasters where one can locate reality-based and largely dependable reporting – particularly during breaking news situations such as the one developing in the vicinity of a New Hampshire storage facility.
A Precarious Position Amid a Business Battle
However CNN, now middle-aged, finds itself in a vulnerable situation as two huge media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has become part of a high-risk game of business acquisition, not as a question of what serves the information-seeking public.
“Here is one more case of the profound systemic issues with origins in decades of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a financial tale with influential figures as the central actors, but there is scant discussion of the public interest,” Pickard explained.
A Further Factor: The Former President
The network's predicament is complicated by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” foe.
Remember the cries of “CNN sucks!” at his rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will protect him from journalistic oversight. That is one reason why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to prefer 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 installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Future of Continued Instability
Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a independent unit. This might be a relief to many at the network, but it’s far from a guarantee of stability. That setup could position CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, a great deal of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be contested by regulators,” Wu recently wrote.
The Fundamental Issue and a Potential Solution
Regardless of the resolution in this situation, the larger issue endures.
“The present media landscape is a profoundly structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can fix it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is highly improbable now, but that is not to say it will never happen.
Policies that bolster independent news organizations, aid local journalism, subsidize public media, and prohibit the accumulation of media power in very few hands are not only possible – they are necessary for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations such as CNN must not be tools in the newest acquisition battle.
