This past Thursday night, as rumors swirled concerning the Brown University gunman, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
Even though it is by no means a perfect news source, her statement seemed accurate for a lot of people. It remains one of the organizations where there exists fact-based and mostly reliable reporting – especially during crises like the one taking place close to a New Hampshire storage facility.
An Uncertain Situation Amid a High-Stakes Struggle
However the news network, now middle-aged, finds itself in a precarious situation as two massive media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a high-risk game of business acquisition, not as a question of what serves the news-consuming public.
“Here is one more case of the deep structural problems with origins in decades of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The conjecture about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a corporate drama with key players as the central actors, but there is hardly any discussion of the societal benefit,” Pickard explained.
A Further Element: Political Influence
This situation is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” foe.
Think back to the chants of “CNN sucks!” at his rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is a factor in why he seems 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 run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.
An Outcome of More Turmoil
Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. This might be a welcome development to many at the network, but it’s hardly a safe harbor. That setup could pave the way for CNN for a future sale. It never ends.
If you ask Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should block both deals.
“Either merger would be harmful to the country, and both should be opposed by the government,” Wu recently wrote.
The Fundamental Problem and a Way Ahead
Regardless of the resolution regarding CNN, the larger issue persists.
“What we have now is a profoundly anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Policy decisions – from the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can tackle it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Reform is a distant prospect now, but that should not imply it will never happen.
Initiatives that bolster independent news organizations, bolster local journalism, subsidize public media, and prevent the consolidation of media power in too few hands are not only possible – they are necessary for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be pawns in the most recent acquisition battle.
