This past Thursday night, while unconfirmed reports spread regarding an incident at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
Even though the network is hardly a perfect news source, her statement resonated for numerous observers. It remains one of the broadcasters where there exists reality-based and mostly reliable reporting – particularly during fast-moving events like the one developing in the vicinity of a New Hampshire storage facility.
A Vulnerable Situation During a High-Stakes Battle
However CNN, now middle-aged, finds itself in a precarious situation as two giant media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has turned into a high-risk game of business acquisition, instead of as a question of what benefits the news-consuming public.
“Here is one more case of the profound systemic issues with roots in decades of regulatory actions,” stated Victor Pickard, writer 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 – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a corporate drama with key players as the central actors, but there is hardly any discussion of the societal benefit,” Pickard added.
The Additional Factor: Political Influence
This situation is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his primary “fake news” foe.
Recall the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that CNN needs new ownership. You can read that as ownership that will insulate him from negative coverage and examination. That is a factor in why he appears to favor 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 Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of Continued Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a separate entity. This might be a relief to many at the network, but it’s hardly a safe harbor. That setup could pave the way for CNN for a future sale. There is no finish line.
In the view of Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Each proposed deal would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu argued.
The Core Issue and a Way Ahead
No matter the outcome with this particular battle, the bigger problem endures.
“What we have now is a very system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard said. Policy decisions – from the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can tackle it.
Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Change is highly improbable now, but that should not imply it will be impossible forever.
Measures that support independent news organizations, reinforce local journalism, fund public media, and prevent the accumulation of media power in very few hands are within reach – they are necessary for a healthy democracy.
In the world of media ownership, size does not equal quality. And news organizations such as CNN cannot be pawns in the latest acquisition battle.
