On Thursday evening, while unconfirmed reports spread about the Brown University gunman, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Even though it is by no means a perfect news source, her statement rang true for a lot of people. It stands as one of the broadcasters where there exists reality-based and largely trustworthy reporting – notably during crises such as the one developing close to a New Hampshire storage facility.
An Uncertain State Amid a Business Battle
But CNN, now four and a half decades old, finds itself in a uncertain situation as two giant media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has been drawn into a high-risk game of corporate ownership, not as a question of what benefits the information-seeking public.
“This is yet another example of the deep structural problems with origins 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 the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a business story with key players as the central actors, but there is hardly any discussion of the common good,” Pickard explained.
The Complicating Layer: The Former President
The network's predicament is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” adversary.
Think back to the shouts of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his clashes 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 negative coverage and examination. That is part of why he seems to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to prefer that suitor more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of Continued Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s far from a secure position. That setup could position CNN for yet another acquisition. It never ends.
According to 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.
“Either merger would be detrimental to the country, and both should be contested by regulators,” Wu recently wrote.
The Fundamental Challenge and a Path Forward
No matter the outcome with this particular battle, the bigger problem endures.
“Our current system is a highly structure that undermines democracy, but we must resist learned helplessness,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to create this profit-obsessed monster, and different policy decisions can address it.
Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will never happen.
Initiatives that support independent news organizations, bolster local journalism, fund public media, and prohibit the consolidation of media power in a handful of hands are not only possible – they are essential for a healthy democracy.
In the world of media ownership, bigger isn’t better. And news organizations like CNN cannot be pawns in the most recent acquisition battle.
