On Thursday evening, amid swirling speculation concerning an incident at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
While CNN is certainly not a impeccable news source, her message rang true for numerous observers. It is one of the organizations where there exists grounded and largely reliable reporting – especially during breaking news situations such as the one developing near a New Hampshire storage facility.
A Vulnerable State During a Business Tug-of-War
However CNN, now 45 years old, finds itself in a precarious state as two huge media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has been drawn into a high-stakes game of business acquisition, rather than as a question of what serves the information-seeking public.
“This is yet another example of the deep structural problems with origins in decades of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The conjecture about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a corporate drama with key players as the main characters, but there is very little discussion of the societal benefit,” Pickard added.
A Further Factor: Political Influence
This situation is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” adversary.
Think back to the cries of “CNN sucks!” at his rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds 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, owner of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of More Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. This might be a relief to many at the network, but it’s hardly a secure position. That setup could position CNN for another sale. It never ends.
According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Core Challenge and a Path Forward
No matter the outcome in this situation, the larger issue remains.
“The present media landscape is a profoundly anti-democratic system, but we ought not succumb to learned helplessness,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can address 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 doesn’t mean it will be impossible forever.
Policies that support independent news organizations, aid local journalism, subsidize public media, and prevent the accumulation of media power in too few hands are not only possible – they are vital for a functioning democracy.
In the world of media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be pawns in the most recent acquisition battle.
