This past Thursday night, while unconfirmed reports spread concerning an incident at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Although it is by no means a perfect news source, her message rang true for a lot of people. It stands as one of the broadcasters where there exists fact-based and mostly trustworthy reporting – especially during breaking news situations such as the one developing close to a New Hampshire storage facility.
A Precarious State Amid a Business Tug-of-War
However the news network, now 45 years old, finds itself in a uncertain position as two giant media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has become part of a major game of corporate ownership, not as a question of what benefits the news-consuming public.
“Here is one more case of the fundamental flaws with origins in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a business story with powerful individuals as the central actors, but there is very little discussion of the common good,” Pickard added.
The Additional Element: Political Influence
The network's predicament is made more complex by Donald Trump’s opinions about a network he has consistently labeled as perhaps his primary “fake news” foe.
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 tense exchanges with Collins in press briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is one reason why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer 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.
Paramount, owner of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of More Instability
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. This might be a welcome development to many at the network, but it’s far from a safe harbor. That arrangement could position CNN for another sale. There is no finish line.
According to 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 competition laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by regulators,” Wu argued.
The Core Problem and a Way Ahead
Regardless of the resolution regarding CNN, the underlying crisis remains.
“Our current system is a profoundly anti-democratic system, but we ought not succumb to a sense of powerlessness,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can fix it.
Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Reform is a distant prospect now, but that is not to say it will never happen.
Initiatives that bolster independent news organizations, bolster local journalism, finance public media, and prohibit the consolidation of media power in very few hands are not only possible – they are essential for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN must not be tools in the newest acquisition battle.
