On Thursday evening, while unconfirmed reports spread concerning an incident at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and directing people to her network’s 9pm newscast.
Although the network is hardly a impeccable news source, her statement seemed accurate for a lot of people. It is one of the outlets where one can locate reality-based and largely dependable reporting – notably during fast-moving events such as the one developing in the vicinity of a New Hampshire storage facility.
A Vulnerable State During a High-Stakes Tug-of-War
But the news network, now four and a half decades old, finds itself in a vulnerable state as two giant media empires battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has turned into a high-risk game of business acquisition, rather than as a question of what benefits the news-consuming public.
“Here is one more case of the deep structural problems with origins in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a financial tale with key players as the central actors, but there is very little discussion of the public interest,” Pickard added.
The Additional Element: Donald Trump
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Remember the shouts of “CNN sucks!” at the president’s rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now claims that the network requires new ownership. You can read that as ownership that will insulate him from journalistic oversight. That is part of why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer that bidder more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
An Outcome of Continued Uncertainty
Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a separate entity. Such a move could be a relief to many at the network, but it’s far from a secure position. That structure could pave the way for CNN for yet another acquisition. It never ends.
According to Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by the government,” Wu argued.
The Fundamental Problem and a Potential Solution
No matter the outcome with this particular battle, the bigger problem endures.
“Our current system is a profoundly system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Government actions – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new policy decisions can address it.
Can reform occur in an era where the top communications regulator will not confirm that the agency is independent? Reform is very unlikely now, but that is not to say it will be impossible forever.
Policies that support independent news organizations, bolster local journalism, subsidize public media, and outlaw the accumulation of media power in very few hands are not only possible – they are vital for a robust democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN cannot be tools in the latest acquisition battle.
