On Thursday evening, while unconfirmed reports spread regarding the Brown University gunman, the network's Kaitlan Collins took to social media, noting the confusion and directing people to her network’s 9pm newscast.
While CNN is certainly not a flawless news source, her words rang true to many. It is one of the broadcasters where one can locate fact-based and generally reliable reporting – notably during crises such as the one taking place close to a New Hampshire storage facility.
A Vulnerable Position During a Corporate Tug-of-War
However the news network, now middle-aged, finds itself in a vulnerable situation as two massive media empires vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a major game of business acquisition, rather than as a question of what benefits the information-seeking public.
“Here is one more case of the profound systemic issues 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 University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It gets presented as a corporate drama with powerful individuals as the main characters, but there is hardly any discussion of the public interest,” Pickard said.
The Additional Element: Political Influence
The network's predicament is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Think back to the cries of “CNN sucks!” at the president’s rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is one reason why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor that suitor more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of Further Instability
Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a independent unit. That would be a welcome development to many at the network, but it’s hardly a secure position. That structure could position CNN for yet another acquisition. It never ends.
According to Timothy Wu, a great deal of this is illegal, anyway. The well-known analyst of big tech’s dominance stated that competition laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu argued.
The Core Problem and a Potential Solution
Regardless of the resolution in this situation, the bigger problem remains.
“Our current system is a highly system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can fix it.
Can reform occur in an era where the top communications regulator will not confirm that the agency is independent? Reform is highly improbable now, but that should not imply it will be impossible forever.
Policies that support independent news organizations, aid local journalism, fund public media, and prohibit the consolidation of media power in a handful of hands are not only possible – they are essential for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations including CNN must not be tools in the latest acquisition battle.
