Late Thursday, amid swirling speculation regarding a shooting at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Although it is by no means a perfect news source, her statement resonated to many. It stands as one of the organizations where one can locate reality-based and largely dependable reporting – particularly during fast-moving events such as the one developing in the vicinity of a New Hampshire storage facility.
A Precarious State Amid a Corporate Tug-of-War
But the news network, now four and a half decades old, finds itself in a uncertain position as two massive media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has become part of a high-stakes game of business acquisition, not as a question of what helps the news-consuming public.
“Here is one more case of the profound systemic issues with origins in many years of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The debate about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a more important point.
“It gets presented as a corporate drama with powerful individuals as the central actors, but there is hardly any discussion of the public interest,” Pickard said.
The Complicating Element: Donald Trump
The network's predicament is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” adversary.
Remember the shouts of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is a factor in why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.
He has grounds to prefer that bidder more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Future of Continued Instability
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That arrangement could position CNN for a future sale. The cycle continues.
In the view of Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by regulators,” Wu stated.
The Fundamental Challenge and a Path Forward
Regardless of the resolution regarding CNN, the larger issue endures.
“Our current system is a profoundly system hostile to democracy, but we must resist learned helplessness,” Pickard said. Government actions – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can tackle it.
Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will not happen in the future.
Policies that support independent news organizations, reinforce local journalism, finance public media, and prohibit the accumulation of media power in too few hands are not only possible – they are necessary for a functioning democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN cannot be tools in the newest acquisition battle.
