Late Thursday, amid swirling speculation concerning an incident at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Even though CNN is certainly not a flawless news source, her words seemed accurate to many. It remains one of the outlets where you can find reality-based and generally dependable reporting – particularly during fast-moving events like the one unfolding near a New Hampshire storage facility.
A Vulnerable Situation Amid a Business Tug-of-War
However CNN, now 45 years old, finds itself in a uncertain position as two huge media empires compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has been drawn into a major 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 regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“The narrative is crafted as a financial tale with powerful individuals as the main characters, but there is very little discussion of the common good,” Pickard explained.
A Further Layer: Political Influence
The CNN scenario is further muddied by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his primary “fake news” foe.
Remember the chants of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now claims that the network requires new ownership. Many see this as a desire for 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 aggressive takeover attempt.
He has grounds to like that company 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.
Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Possibility of More Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be carved out 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 pave the way for CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, a great deal of this is illegal, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Either merger would be detrimental to the country, and both should be contested by regulators,” Wu recently wrote.
The Core Problem and a Potential Solution
Regardless of the resolution in this situation, the larger issue endures.
“What we have now is a profoundly anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard said. Government actions – from the 1930s and 1940s – helped to foster this profit-obsessed monster, and new policy decisions can fix it.
Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that should not imply it will never happen.
Policies that bolster independent news organizations, aid local journalism, fund public media, and outlaw the accumulation of media power in very few hands are not only possible – they are essential for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations like CNN cannot be pawns in the newest corporate chess match.
