This past Thursday night, while unconfirmed reports spread concerning an incident at Brown University, CNN’s Kaitlan Collins posted on 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 seemed accurate for a lot of people. It is one of the broadcasters where you can find grounded and largely trustworthy reporting – notably during fast-moving events like the one unfolding close to a New Hampshire storage facility.
A Precarious State During a Business Battle
However CNN, now middle-aged, finds itself in a uncertain state as two huge media empires vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has turned into a high-stakes game of mergers and acquisitions, rather than as a question of what benefits the information-seeking public.
“This represents another instance of the profound systemic issues with origins in decades of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a financial tale with key players as the protagonists, but there is hardly any discussion of the public interest,” Pickard explained.
A Further Element: Donald Trump
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” antagonist.
Recall the chants of “CNN sucks!” at his rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is part of why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to favor that company 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, parent of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Possibility of Continued Turmoil
Notably, 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 far from a secure position. That setup could pave the way for CNN for a future sale. It never ends.
If you ask Timothy Wu, a great deal of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that competition laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by regulators,” Wu stated.
The Core Issue and a Path Forward
Regardless of the resolution in this situation, the underlying crisis remains.
“Our current system is a profoundly anti-democratic system, but we shouldn’t give in to learned helplessness,” Pickard said. Policy decisions – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and revised policy decisions can address it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Change is highly improbable now, but that should not imply it will be impossible forever.
Measures that bolster independent news organizations, bolster local journalism, fund public media, and outlaw the consolidation of media power in very few hands are within reach – they are essential for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations like CNN cannot be tools in the latest corporate chess match.
