This past Thursday night, while unconfirmed reports spread concerning a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and guiding the public to her channel's 9pm newscast.
Even though CNN is certainly not a impeccable news source, her message seemed accurate for numerous observers. It is one of the broadcasters where there exists fact-based and mostly dependable reporting – notably during breaking news situations like the one unfolding close to a New Hampshire storage facility.
An Uncertain Situation During a High-Stakes Tug-of-War
But the news network, now 45 years old, finds itself in a vulnerable situation as two huge media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a high-stakes game of corporate ownership, not as a question of what benefits the news-consuming 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 professor of media policy at the University of Pennsylvania.
The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a business story with powerful individuals as the central actors, but there is scant discussion of the societal benefit,” Pickard explained.
The Additional Layer: Donald Trump
The CNN scenario is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” antagonist.
Recall the chants of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now says 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.
Trump has reason to like that company more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Future of Further Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. That would be a welcome development to many at the network, but it’s far from a secure position. That setup could position CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, a great deal of this is illegal, anyway. The influential voice of big tech’s dominance wrote recently that competition laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by the government,” Wu recently wrote.
The Core Problem and a Potential Solution
Regardless of the resolution in this situation, the bigger problem persists.
“Our current system is a highly system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can address it.
Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that doesn’t mean it will never happen.
Policies that strengthen independent news organizations, reinforce local journalism, subsidize public media, and outlaw the concentration of media power in a handful of hands are within reach – they are essential for a healthy democracy.
In the world of media ownership, size does not equal quality. And news organizations like CNN must not be pawns in the latest acquisition battle.
