Late Thursday, while unconfirmed reports spread concerning a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
While CNN is certainly not a perfect news source, her statement rang true for a lot of people. It stands as one of the outlets where there exists fact-based and largely trustworthy reporting – especially during fast-moving events like the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain Position During a Corporate Tug-of-War
Yet the news network, now four and a half decades old, finds itself in a vulnerable position as two giant media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has become part of a major game of corporate ownership, instead of as a question of what serves the news-consuming public.
“Here is one more case of the profound systemic issues with roots in decades of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It gets presented as a financial tale with influential figures as the protagonists, but there is scant discussion of the societal benefit,” Pickard explained.
A Further Element: Political Influence
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” adversary.
Recall the cries of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is part of why he appears to support Paramount Skydance, which has made a hostile bid.
He has grounds to favor that company 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, parent of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Possibility of Continued Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a welcome development to many at the network, but it’s hardly a safe harbor. That setup could position CNN for a future sale. It never ends.
If you ask Timothy Wu, a great deal of this is against the law, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should block both deals.
“Each proposed deal would be harmful to the country, and both should be contested by the government,” Wu stated.
The Bigger Issue and a Way Ahead
No matter the outcome with this particular battle, the bigger problem persists.
“What we have now is a highly system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can address it.
Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Change is a distant prospect now, but that doesn’t mean it will not happen in the future.
Policies that support independent news organizations, bolster local journalism, subsidize public media, and prevent the accumulation of media power in very few hands are achievable – they are vital for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be tools in the most recent corporate chess match.
