This past Thursday night, while unconfirmed reports spread about an incident at Brown University, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
Even though CNN is certainly not a flawless news source, her message rang true to many. It stands as one of the organizations where you can find fact-based and largely trustworthy reporting – especially during crises like the one unfolding in the vicinity of a New Hampshire storage facility.
An Uncertain Situation Amid a Business Struggle
Yet CNN, now four and a half decades old, finds itself in a uncertain position as two giant media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has turned into a high-stakes game of business acquisition, instead of as a question of what helps the information-seeking public.
“This represents another instance of the fundamental flaws with roots in many years of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a financial tale with key players as the main characters, but there is hardly any discussion of the societal benefit,” Pickard added.
The Complicating Layer: Political Influence
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his chief “fake news” antagonist.
Think back to the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is a factor in why he appears to support Paramount Skydance, which has made a hostile bid.
Trump has reason to prefer that bidder more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Future of Further Instability
Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. That would be a welcome development to many at the network, but it’s not exactly a safe harbor. That structure could position CNN for another sale. There is no finish line.
In the view of Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by regulators,” Wu stated.
The Core Problem and a Way Ahead
Whatever happens with this particular battle, the larger issue remains.
“Our current system is a profoundly anti-democratic system, but we must resist the belief that change is impossible,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can address it.
Is this likely in an era where the top communications regulator won’t even affirm that the agency is independent? Reform is very unlikely now, but that is not to say it will never happen.
Initiatives that strengthen independent news organizations, aid local journalism, finance public media, and outlaw the consolidation of media power in very few hands are achievable – they are essential for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations like CNN cannot be pawns in the most recent corporate chess match.
