On Thursday evening, amid swirling speculation concerning the Brown University gunman, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
Although it is by no means a impeccable news source, her words rang true for numerous observers. It is one of the broadcasters where one can locate reality-based and generally reliable reporting – especially during crises such as the one developing in the vicinity of a New Hampshire storage facility.
A Vulnerable Situation During a Business Struggle
But CNN, now middle-aged, finds itself in a vulnerable state as two massive media corporations battle over 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 corporate ownership, not as a question of what benefits the news-consuming public.
“This is yet another example of the fundamental flaws with roots in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It gets presented as a business story with powerful individuals as the protagonists, but there is very little discussion of the public interest,” Pickard added.
A Further Layer: Political Influence
The network's predicament is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Recall the cries of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that the network requires 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 come down on the side of Paramount Skydance, which has made a hostile bid.
Trump has reason to like that bidder more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that storied news network.
An Outcome of More Turmoil
It is important to note, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. This might be a welcome development to many at the network, but it’s hardly a safe harbor. That arrangement could pave the way for CNN for a future sale. It never ends.
According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that competition laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be contested by anti-trust authorities,” Wu stated.
The Bigger Challenge and a Way Ahead
Whatever happens regarding CNN, the underlying crisis endures.
“Our current system is a profoundly system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard said. Policy decisions – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can fix it.
Is this likely in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will never happen.
Initiatives that strengthen independent news organizations, reinforce local journalism, finance public media, and outlaw the accumulation of media power in a handful of hands are not only possible – they are essential for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations including CNN cannot be tools in the newest acquisition battle.
