Late Thursday, amid swirling speculation regarding a shooting at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
Even though CNN is certainly not a perfect news source, her statement seemed accurate for numerous observers. It stands as one of the broadcasters where one can locate grounded and largely trustworthy reporting – particularly during fast-moving events such as the one taking place near a New Hampshire storage facility.
An Uncertain State Amid a Corporate Tug-of-War
But the news network, now four and a half decades old, finds itself in a precarious position as two huge media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a high-stakes game of business acquisition, rather than as a question of what helps the information-seeking public.
“Here is one more case of the deep structural problems with roots in many years of policy decisions,” stated Victor Pickard, author 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? – fails to grasp a larger point.
“It gets presented as a financial tale with key players as the protagonists, but there is hardly any discussion of the public interest,” Pickard said.
The Complicating Layer: Political Influence
The network's predicament is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” foe.
Recall the shouts of “CNN sucks!” at the president’s rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now asserts that CNN needs 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 favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to like that bidder more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Possibility of Further Turmoil
Significantly, if Netflix prevails, CNN and other cable outlets would first be separated into a standalone company. This might be a relief to many at the network, but it’s far from a secure position. That structure could set up CNN for another sale. The cycle continues.
If you ask Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should disallow both deals.
“Both acquisition attempts 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
Whatever happens regarding CNN, the underlying crisis remains.
“The present media landscape is a very system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard noted. Government actions – from the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised policy decisions can tackle it.
Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that should not imply it will be impossible forever.
Measures that strengthen independent news organizations, bolster local journalism, finance public media, and prohibit the concentration of media power in very few hands are not only possible – they are vital for a robust democracy.
In the world of media ownership, bigger isn’t better. And news organizations such as CNN cannot be pawns in the newest merger game.
