Late Thursday, as rumors swirled regarding the Brown University gunman, CNN’s Kaitlan Collins took to social media, noting the confusion and guiding the public to her channel's 9pm newscast.
Even though CNN is certainly not a flawless news source, her words resonated for numerous observers. It remains one of the broadcasters where there exists reality-based and generally reliable reporting – particularly during crises such as the one unfolding close to a New Hampshire storage facility.
A Precarious State Amid a Corporate Struggle
But the news network, now middle-aged, finds itself in a vulnerable position as two massive media corporations compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has turned into a high-risk game of business acquisition, instead of as a question of what serves the information-seeking public.
“This represents another instance of the fundamental flaws with roots in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a financial tale with influential figures as the protagonists, but there is scant discussion of the societal benefit,” Pickard added.
The Complicating Element: Political Influence
This situation is made more complex by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Think back to the cries of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is part of why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to like that suitor 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.
The company, parent of CBS News, also recently installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Future of More Instability
Notably, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. That would be a relief to many at the network, but it’s not exactly a secure position. That arrangement could pave the way for CNN for a future sale. The cycle continues.
If you ask Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu recently wrote.
The Bigger Issue and a Way Ahead
No matter the outcome regarding CNN, the larger issue persists.
“Our current system is a very structure that undermines democracy, but we ought not succumb to learned helplessness,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can address it.
Can reform occur in an era where the head of the FCC won’t even affirm that the agency is independent? Change is very unlikely now, but that doesn’t mean it will not happen in the future.
Initiatives that support independent news organizations, reinforce local journalism, finance public media, and prohibit the concentration of media power in very few hands are not only possible – they are essential for a functioning democracy.
Regarding media ownership, size does not equal quality. And news organizations such as CNN cannot be tools in the latest acquisition battle.
