This Corporate Battle For CNN Shows The Extent to Which Broken American Journalism Has Become.
On Thursday evening, while unconfirmed reports spread about a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Even though CNN is certainly not a impeccable news source, her words resonated for numerous observers. It stands as one of the broadcasters where there exists reality-based and largely trustworthy reporting – notably during crises such as the one taking place close to a New Hampshire storage facility.
A Vulnerable State During a Business Tug-of-War
However CNN, now four and a half decades old, finds itself in a vulnerable position as two huge media empires compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has turned into a high-risk game of business acquisition, not as a question of what serves the information-seeking public.
“Here is one more case of the fundamental flaws with origins in decades of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a corporate drama with influential figures as the protagonists, but there is hardly any discussion of the public interest,” Pickard explained.
The Additional Element: Donald Trump
The CNN scenario is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” antagonist.
Recall the cries of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now asserts that the network requires new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is part of why he appears to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to prefer that suitor more. For one thing, it is run 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 appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Future of More Instability
Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a independent unit. This might be a relief to many at the network, but it’s hardly a secure position. That setup could position CNN for a future sale. There is no finish line.
In the view of Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance stated that competition laws should prohibit both deals.
“Either merger would be bad for the country, and both should be challenged by anti-trust authorities,” Wu recently wrote.
The Core Issue and a Way Ahead
Whatever happens with this particular battle, the bigger problem persists.
“Our current system is a very structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can fix 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 doesn’t mean it will never happen.
Policies that bolster independent news organizations, bolster local journalism, finance public media, and prevent the concentration of media power in too few hands are achievable – they are necessary for a robust democracy.
In the world of media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be pieces in the most recent merger game.