On Thursday evening, amid swirling speculation regarding a shooting at Brown University, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
While CNN is certainly not a flawless news source, her statement rang true for numerous observers. It stands as one of the outlets where you can find grounded and generally dependable reporting – especially during breaking news situations like the one taking place near a New Hampshire storage facility.
A Precarious State Amid a Business Struggle
But the news network, now four and a half decades old, finds itself in a vulnerable situation as two huge media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a high-stakes game of corporate ownership, instead of as a question of what helps the news-consuming public.
“Here is one more case of the profound systemic issues with roots in many years of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It is often framed as a business story with influential figures as the main characters, but there is scant discussion of the societal benefit,” Pickard said.
The Additional Element: The Former President
The CNN scenario is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” adversary.
Recall the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is a factor in why he seems to favor Paramount Skydance, which has made a hostile bid.
Trump has reason to prefer that bidder more. For one thing, it is led 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 appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Possibility of Continued Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. Such a move could be a relief to many at the network, but it’s not exactly a secure position. That setup could position CNN for another sale. It never ends.
In the view of Timothy Wu, a great deal of this is illegal, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by regulators,” Wu argued.
The Core Issue and a Path Forward
Regardless of the resolution with this particular battle, the underlying crisis persists.
“Our current system is a highly structure that undermines democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can tackle it.
Can reform occur in an era where the top communications regulator will not confirm that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will not happen in the future.
Initiatives that strengthen independent news organizations, bolster local journalism, finance public media, and prevent the accumulation of media power in a handful of hands are achievable – they are necessary for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations such as CNN cannot be tools in the newest corporate chess match.
