Late Thursday, as rumors swirled concerning a shooting 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 it is by no means a perfect news source, her words resonated to many. It stands as one of the broadcasters where one can locate fact-based and mostly dependable reporting – notably during breaking news situations like the one unfolding near a New Hampshire storage facility.
A Precarious State Amid a Business Battle
Yet the news network, now 45 years old, finds itself in a uncertain position as two massive media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a high-stakes game of business acquisition, not as a question of what serves 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, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“It is often framed as a financial tale with powerful individuals as the main characters, but there is very little discussion of the societal benefit,” Pickard added.
The Complicating Factor: Political Influence
This situation is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Remember the shouts of “CNN sucks!” at the president’s rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now claims that the network requires new ownership. You can read that as ownership that will insulate 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.
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.
The company, owner of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Possibility of More Uncertainty
Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a independent unit. This might 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. The cycle continues.
If you ask Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by regulators,” Wu recently wrote.
The Core Challenge and a Path Forward
Whatever happens with this particular battle, the underlying crisis persists.
“The present media landscape is a profoundly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Government actions – originating in the 1930s and 1940s – helped to foster 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? Reform is very unlikely now, but that doesn’t mean it will be impossible forever.
Measures that bolster independent news organizations, aid local journalism, finance public media, and outlaw the accumulation of media power in a handful of hands are achievable – they are vital for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN shouldn’t be pawns in the newest acquisition battle.
