Late Thursday, 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 flawless news source, her words resonated to many. It stands as one of the broadcasters where there exists fact-based and largely dependable reporting – especially during breaking news situations like the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain State Amid a Business Struggle
But the news network, now four and a half decades old, finds itself in a precarious situation as two huge media empires battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has been drawn into a high-stakes game of corporate ownership, instead of as a question of what serves the information-seeking public.
“This is yet another example of the deep structural problems with origins in many years of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a financial tale with key players as the protagonists, but there is very little discussion of the societal benefit,” Pickard added.
The Complicating Layer: Political Influence
This situation is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Remember the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now claims that the network requires new ownership. You can read that 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 aggressive takeover attempt.
There is a basis to favor that bidder more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of Further Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a independent unit. Such a move could be a relief to many at the network, but it’s hardly a secure position. That arrangement could pave the way for CNN for another sale. There is no finish line.
If you ask Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance stated that competition laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be contested by anti-trust authorities,” Wu recently wrote.
The Fundamental Issue and a Path Forward
No matter the outcome in this situation, the underlying crisis persists.
“The present media landscape is a highly system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can fix it.
Will that happen in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Reform is a distant prospect now, but that should not imply it will not happen in the future.
Measures that strengthen independent news organizations, aid local journalism, fund public media, and prevent the consolidation of media power in too few hands are within reach – they are necessary for a functioning democracy.
Regarding media ownership, bigger isn’t better. And news organizations including CNN cannot be pawns in the latest acquisition battle.
