The Tug-of-War For CNN Reveals The Extent to Which Dysfunctional American Media Has Become.
Late Thursday, amid swirling speculation concerning a shooting at Brown University, CNN’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 impeccable news source, her statement resonated for a lot of people. It is one of the outlets where you can find fact-based and mostly trustworthy reporting – particularly during fast-moving events like the one unfolding close to a New Hampshire storage facility.
A Precarious Position During a Business Tug-of-War
But CNN, now middle-aged, finds itself in a vulnerable state as two massive media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a high-stakes game of corporate ownership, not as a question of what serves the information-seeking public.
“This is yet another example of the deep structural problems with roots in decades of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The conjecture about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It is often framed as a financial tale with influential figures as the protagonists, but there is scant discussion of the common good,” Pickard added.
The Additional Factor: Political Influence
This situation is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his primary “fake news” adversary.
Recall the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now says that CNN needs new ownership. You can read that as ownership that will shield him from negative coverage and examination. That is a factor in why he seems to support Paramount Skydance, which has made a hostile bid.
Trump has reason to like 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, owner of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Possibility of Further Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. This might be a relief to many at the network, but it’s not exactly a secure position. That structure could set up CNN for a future sale. There is no finish line.
In the view of Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by the government,” Wu recently wrote.
The Core Issue and a Way Ahead
Regardless of the resolution regarding CNN, the bigger problem endures.
“What we have now is a highly system hostile to democracy, but we must resist learned helplessness,” Pickard noted. Government actions – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can address it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will not happen in the future.
Initiatives that bolster independent news organizations, reinforce local journalism, finance public media, and prohibit the concentration of media power in very few hands are within reach – they are essential for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be tools in the most recent acquisition battle.
