On Thursday evening, as rumors swirled about an incident at Brown University, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Even though CNN is certainly not a flawless news source, her message seemed accurate for a lot of people. It remains one of the outlets where one can locate grounded and generally trustworthy reporting – especially during fast-moving events like the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious Situation During a High-Stakes Tug-of-War
Yet CNN, now 45 years old, 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 destiny of CNN has been drawn into a major game of business acquisition, rather than as a question of what helps the information-seeking public.
“This represents another instance of the deep structural problems with roots in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a corporate drama with key players as the central actors, but there is scant discussion of the public interest,” Pickard added.
The Complicating Factor: Donald Trump
This situation is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” foe.
Recall the cries of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is part of why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis 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, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.
An Outcome of More Uncertainty
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. That would be a welcome development to many at the network, but it’s hardly a guarantee of stability. That setup could position CNN for another sale. It never ends.
In the view of Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by regulators,” Wu stated.
The Bigger Problem and a Path Forward
No matter the outcome with this particular battle, the underlying crisis persists.
“Our current system is a highly structure that undermines democracy, but we must resist learned helplessness,” Pickard said. Government actions – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and new 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 a distant prospect now, but that should not imply it will be impossible forever.
Initiatives that support independent news organizations, reinforce local journalism, fund public media, and outlaw the consolidation of media power in very few hands are achievable – they are necessary for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN shouldn’t be pieces in the newest corporate chess match.
