On Thursday evening, amid swirling speculation regarding an incident at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Even though the network is hardly a flawless news source, her statement resonated for numerous observers. It stands as one of the broadcasters where one can locate reality-based and generally dependable reporting – notably during fast-moving events such as the one unfolding close to a New Hampshire storage facility.
A Vulnerable State During a Business Battle
Yet the news network, now middle-aged, finds itself in a uncertain position 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 corporate ownership, instead of as a question of what benefits the news-consuming public.
“Here is one more case of the profound systemic issues with roots in many years of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The debate about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It gets presented as a financial tale with powerful individuals as the main characters, but there is scant discussion of the societal benefit,” Pickard said.
A Further Element: Political Influence
This situation is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” foe.
Think back to the chants of “CNN sucks!” at the president’s rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is a factor in why he seems to support Paramount Skydance, which has made a unsolicited offer.
Trump has reason to prefer that bidder more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Future of More Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. That would be a relief to many at the network, but it’s far from a safe harbor. That setup could pave the way for CNN for a future sale. There is no finish line.
If you ask Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by regulators,” Wu stated.
The Fundamental Problem and a Way Ahead
Regardless of the resolution with this particular battle, the bigger problem endures.
“What we have now is a profoundly system hostile to democracy, but we must resist the belief that change is impossible,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can address it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Change is highly improbable now, but that is not to say it will not happen in the future.
Policies that bolster independent news organizations, reinforce local journalism, fund public media, and prevent the consolidation of media power in very few hands are achievable – they are essential for a functioning democracy.
In the world of media ownership, bigger isn’t better. And news organizations including CNN must not be pieces in the most recent merger game.
