On Thursday evening, as rumors swirled concerning the Brown University gunman, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Although 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 you can find grounded and generally reliable reporting – notably during fast-moving events such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable State Amid a Business Tug-of-War
But the news network, now middle-aged, finds itself in a vulnerable state as two huge media corporations compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a high-stakes game of corporate ownership, not as a question of what serves the information-seeking public.
“This is yet another example of the profound systemic issues with origins in many years of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a more important point.
“The narrative is crafted as a business story with influential figures as the central actors, but there is scant discussion of the public interest,” Pickard explained.
A Further Element: The Former President
The CNN scenario is further muddied by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Think back to the chants of “CNN sucks!” at his rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to favor that bidder more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of More Uncertainty
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. Such a move could be a relief to many at the network, but it’s not exactly a secure position. That arrangement could set up CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by regulators,” Wu recently wrote.
The Fundamental Issue and a Way Ahead
Whatever happens in this situation, the underlying crisis persists.
“Our current system is a highly system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can tackle it.
Can reform occur in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Reform is highly improbable now, but that should not imply it will be impossible forever.
Initiatives that support independent news organizations, aid local journalism, fund public media, and prevent the concentration of media power in too few hands are within reach – they are necessary for a healthy democracy.
In the world of media ownership, larger is not superior. And news organizations like CNN shouldn’t be pieces in the newest merger game.
