Late Thursday, as rumors swirled about the Brown University gunman, CNN’s Kaitlan Collins used social media, noting the confusion and guiding the public to her channel's 9pm newscast.
Although it is by no means a impeccable news source, her words seemed accurate to many. It stands as one of the organizations where one can locate reality-based and generally trustworthy reporting – especially during crises like the one developing near a New Hampshire storage facility.
A Vulnerable State During a High-Stakes Battle
But CNN, now four and a half decades old, finds itself in a vulnerable state as two huge media corporations compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has become part of a major game of mergers and acquisitions, not as a question of what helps the news-consuming public.
“This represents another instance of the fundamental flaws with roots in decades of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a financial tale with powerful individuals as the main characters, but there is hardly any discussion of the public interest,” Pickard said.
A Further Element: Political Influence
The CNN scenario is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Recall the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is one reason why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to like that company more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that storied news network.
A Possibility of More Turmoil
Significantly, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. This might be a relief to many at the network, but it’s not exactly a safe harbor. That setup could position CNN for another sale. There is no finish line.
If you ask Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Each proposed deal would be harmful to the country, and both should be challenged by the government,” Wu stated.
The Bigger Challenge and a Potential Solution
Regardless of the resolution regarding CNN, the underlying crisis endures.
“Our current system is a very structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Government actions – from the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised policy decisions can address it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will not happen in the future.
Initiatives that bolster independent news organizations, aid local journalism, finance public media, and prohibit the concentration 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 cannot be tools in the latest corporate chess match.
