Late Thursday, amid swirling speculation about a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
While it is by no means a perfect news source, her words seemed accurate to many. It stands as one of the organizations where you can find reality-based and generally trustworthy reporting – notably during breaking news situations like the one developing close to a New Hampshire storage facility.
A Precarious Situation During a High-Stakes Battle
However the news network, now middle-aged, finds itself in a vulnerable position as two huge media empires battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has been drawn into a major game of business acquisition, instead of as a question of what benefits the news-consuming public.
“This is yet another example of the profound systemic issues with origins in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It is often framed as a financial tale with powerful individuals as the central actors, but there is hardly any discussion of the societal benefit,” Pickard explained.
The Complicating Layer: Donald Trump
This situation is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” foe.
Recall the chants of “CNN sucks!” at Trump's rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is part of why he seems to support Paramount Skydance, which has made a unsolicited offer.
There is a basis 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, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Future of Further Uncertainty
Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a separate entity. Such a move could be a welcome development to many at the network, but it’s far from a guarantee of stability. That structure could pave the way for CNN for another sale. The cycle continues.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be contested by anti-trust authorities,” Wu argued.
The Bigger Challenge and a Potential Solution
Regardless of the resolution with this particular battle, the bigger problem remains.
“The present media landscape is a profoundly system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Government actions – from the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can tackle it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will be impossible forever.
Policies that bolster independent news organizations, reinforce local journalism, finance public media, and prevent the accumulation of media power in a handful of hands are not only possible – they are essential for a functioning democracy.
In the world of media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be pieces in the most recent acquisition battle.
