Late Thursday, as rumors swirled concerning a shooting at Brown University, CNN’s Kaitlan Collins took to social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Even though CNN is certainly not a flawless news source, her message seemed accurate for numerous observers. It remains one of the broadcasters where there exists fact-based and largely reliable reporting – particularly during crises like the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious Situation During a High-Stakes Tug-of-War
Yet the news network, now four and a half decades old, finds itself in a precarious situation as two massive media empires battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a high-stakes game of corporate ownership, instead of as a question of what benefits the news-consuming public.
“This is yet another example of the profound systemic issues with roots in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“It is often framed as a financial tale with powerful individuals as the main characters, but there is very little discussion of the public interest,” Pickard added.
The Additional Element: Donald Trump
The network's predicament is complicated by Donald Trump’s views about a network he has long portrayed as perhaps his primary “fake news” antagonist.
Recall the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is a factor in why he appears to support Paramount Skydance, which has made a unsolicited offer.
He has grounds to like that bidder more. For one thing, it is controlled 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 placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Future of More Uncertainty
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. This might be a relief to many at the network, but it’s hardly a safe harbor. That arrangement could position CNN for yet another acquisition. It never ends.
In the view of Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should block both deals.
“Either merger would be bad for the country, and both should be challenged by anti-trust authorities,” Wu recently wrote.
The Bigger Challenge and a Way Ahead
No matter the outcome in this situation, the bigger problem remains.
“What we have now is a highly anti-democratic system, but we ought not succumb to learned helplessness,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can fix it.
Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that is not to say it will not happen in the future.
Initiatives that strengthen independent news organizations, reinforce local journalism, fund public media, and outlaw the consolidation of media power in too few hands are achievable – they are essential for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations like CNN must not be pieces in the newest corporate chess match.
