Late Thursday, as rumors swirled regarding a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
Although it is by no means a flawless news source, her statement rang true for numerous observers. It stands as one of the outlets where there exists fact-based and mostly reliable reporting – especially during fast-moving events such as the one taking place in the vicinity of a New Hampshire storage facility.
A Vulnerable Situation During a Business Battle
Yet the news network, now middle-aged, finds itself in a uncertain situation as two huge media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a high-stakes game of business acquisition, rather than as a question of what serves the information-seeking public.
“This is yet another example of the profound systemic issues with roots in many years of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The debate about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a corporate drama with influential figures as the main characters, but there is very little discussion of the societal benefit,” Pickard added.
A Further Element: Donald Trump
This situation is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” antagonist.
Remember the shouts of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says 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 seems to favor Paramount Skydance, which has made a unsolicited offer.
He has grounds to like that company more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of Further Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a separate entity. This might be a welcome development to many at the network, but it’s hardly a guarantee of stability. That setup could position CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by the government,” Wu argued.
The Bigger Challenge and a Way Ahead
No matter the outcome in this situation, the underlying crisis endures.
“What we have now is a profoundly anti-democratic system, but we ought not succumb to learned helplessness,” Pickard noted. Government actions – from the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can fix it.
Will that happen in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is a distant prospect now, but that doesn’t mean it will never happen.
Initiatives that bolster independent news organizations, bolster local journalism, finance public media, and outlaw the concentration of media power in a handful of hands are not only possible – they are necessary for a functioning democracy.
When it comes to media ownership, bigger isn’t better. And news organizations including CNN must not be pieces in the latest corporate chess match.
