On Thursday evening, as rumors swirled about a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Even though CNN is certainly not a flawless news source, her message rang true for numerous observers. It is one of the organizations where there exists fact-based and generally trustworthy reporting – particularly during fast-moving events like the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious Situation During a High-Stakes Battle
However CNN, now four and a half decades old, finds itself in a precarious state as two massive media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has been drawn into a high-stakes game of corporate ownership, rather than as a question of what serves the information-seeking public.
“This represents another instance of the profound systemic issues with origins in decades of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a corporate drama with influential figures as the central actors, but there is very little discussion of the public interest,” Pickard added.
The Complicating Layer: The Former President
The network's predicament is complicated by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” antagonist.
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 sparring with Collins in press briefings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is one reason why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to like that bidder 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.
Paramount, owner of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Future of More Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s hardly a secure position. That structure could set up CNN for another sale. It never ends.
In the view of Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that competition laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by regulators,” Wu argued.
The Fundamental Problem and a Way Ahead
Regardless of the resolution regarding CNN, the bigger problem persists.
“Our current system is a profoundly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Policy decisions – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can tackle it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that is not to say it will never happen.
Measures that support independent news organizations, bolster local journalism, fund public media, and prohibit the concentration of media power in very few hands are within reach – they are vital for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN shouldn’t be tools in the latest acquisition battle.
