Late Thursday, as rumors swirled concerning the Brown University gunman, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
While it is by no means a flawless news source, her message seemed accurate for numerous observers. It stands as one of the outlets where one can locate fact-based and largely trustworthy reporting – especially during breaking news situations like the one developing near a New Hampshire storage facility.
A Precarious Situation Amid a Business Battle
However the news network, now 45 years old, finds itself in a precarious situation as two giant media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has turned into a major game of business acquisition, 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 decades of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“It gets presented as a financial tale with influential figures as the central actors, but there is scant discussion of the public interest,” Pickard added.
The Additional Element: The Former President
The network's predicament is made more complex by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” foe.
Remember the shouts of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will shield him from negative coverage and examination. That is part of why he appears to support Paramount Skydance, which has made a unsolicited offer.
He has grounds to favor that company more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that storied news network.
An Outcome of More Turmoil
It is important to note, if Netflix prevails, CNN and other cable outlets would first be separated into a separate entity. That would be a welcome development to many at the network, but it’s far from a safe harbor. That structure could pave the way for CNN for another sale. There is no finish line.
If you ask Timothy Wu, a great deal of this is illegal, anyway. The influential voice of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be opposed by regulators,” Wu stated.
The Bigger Challenge and a Way Ahead
No matter the outcome in this situation, the bigger problem endures.
“Our current system is a profoundly anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Government actions – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and revised policy decisions can fix it.
Will that happen in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Reform is a distant prospect 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 prevent the consolidation of media power in very few hands are achievable – they are essential for a robust democracy.
In the world of media ownership, size does not equal quality. And news organizations including CNN must not be pawns in the most recent acquisition battle.
