On Thursday evening, amid swirling speculation concerning an incident at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Although CNN is certainly not a perfect news source, her message seemed accurate for numerous observers. It is one of the outlets where there exists reality-based and mostly reliable reporting – especially during breaking news situations such as the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain State Amid a Corporate Tug-of-War
However CNN, now 45 years old, finds itself in a vulnerable position as two huge media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a major game of business acquisition, rather than as a question of what serves the information-seeking public.
“This represents another instance of the profound systemic issues with origins in many years of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a financial tale with powerful individuals as the main characters, but there is scant discussion of the societal benefit,” Pickard explained.
The Complicating Layer: The Former President
The network's predicament is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” foe.
Recall the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is one reason why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to prefer that bidder more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Future of More Instability
Significantly, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a relief to many at the network, but it’s hardly a secure position. That structure could pave the way for CNN for yet another acquisition. It never ends.
If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by the government,” Wu recently wrote.
The Core Problem and a Potential Solution
No matter the outcome regarding CNN, the bigger problem endures.
“The present media landscape is a profoundly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and new policy decisions can fix it.
Can reform occur in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will be impossible forever.
Initiatives that support independent news organizations, bolster local journalism, finance public media, and prohibit the accumulation of media power in a handful of hands are achievable – they are vital for a functioning democracy.
In the world of media ownership, bigger isn’t better. And news organizations including CNN must not be pawns in the latest merger game.
