On Thursday evening, while unconfirmed reports spread about an incident at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
Although it is by no means a perfect news source, her message seemed accurate for numerous observers. It stands as one of the organizations where one can locate reality-based and largely trustworthy reporting – notably during breaking news situations like the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain Position Amid a Business Struggle
But CNN, now four and a half decades old, finds itself in a precarious position as two massive media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a high-risk game of business acquisition, rather than as a question of what benefits the news-consuming public.
“Here is one more case of the deep structural problems with roots in decades of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a financial tale with key players as the protagonists, but there is very little discussion of the common good,” Pickard added.
The Additional Element: Political Influence
This situation is complicated by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” adversary.
Think back to the chants of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now asserts that CNN needs new ownership. You can read that as ownership that will protect him from negative coverage and examination. That is part of why he appears to favor Paramount Skydance, which has made a hostile bid.
He has grounds to favor that company more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of Further Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. That would be a relief to many at the network, but it’s hardly a guarantee of stability. That setup could position CNN for a future sale. It never ends.
If you ask Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be contested by the government,” Wu recently wrote.
The Fundamental Issue and a Path Forward
Regardless of the resolution with this particular battle, the bigger problem persists.
“What we have now is a highly structure that undermines democracy, but we must resist learned helplessness,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can address it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will not happen in the future.
Policies that support independent news organizations, bolster local journalism, fund public media, and prevent the consolidation of media power in too few hands are within reach – they are necessary for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations such as CNN shouldn’t be tools in the most recent acquisition battle.
