Late Thursday, amid swirling speculation about an incident at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and directing people to her network’s 9pm newscast.
While CNN is certainly not a impeccable news source, her statement resonated for a lot of people. It remains one of the broadcasters where there exists grounded and mostly dependable reporting – particularly during breaking news situations such as the one taking place close to a New Hampshire storage facility.
A Vulnerable Situation Amid a Corporate Battle
However CNN, now 45 years old, finds itself in a uncertain situation as two massive media empires vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has turned into a high-stakes game of corporate ownership, rather than as a question of what serves the news-consuming public.
“This is yet another example of the profound systemic issues with roots in many years of governmental choices,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a financial tale with key players as the main characters, but there is very little discussion of the societal benefit,” Pickard explained.
The Additional Factor: The Former President
This situation is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Think back to the shouts of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is part of why he appears to favor Paramount Skydance, which has made a hostile bid.
Trump has reason to prefer that company 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 installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of Continued Instability
Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a independent unit. Such a move could be a welcome development to many at the network, but it’s hardly a guarantee of stability. That arrangement could position CNN for another sale. The cycle continues.
According to Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be contested by the government,” Wu stated.
The Core Challenge and a Way Ahead
Regardless of the resolution regarding CNN, the larger issue remains.
“What we have now is a profoundly structure that undermines democracy, but we ought not succumb to learned helplessness,” Pickard said. Policy decisions – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can address it.
Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Reform is a distant prospect now, but that should not imply it will not happen in the future.
Policies that bolster independent news organizations, bolster local journalism, finance public media, and prevent the consolidation of media power in a handful of hands are achievable – they are essential for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations such as CNN must not be tools in the most recent acquisition battle.
