Late Thursday, as rumors swirled regarding an incident at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Even though the network is hardly a flawless news source, her words resonated for numerous observers. It stands as one of the broadcasters where one can locate grounded and generally dependable reporting – particularly during fast-moving events such as the one developing near a New Hampshire storage facility.
A Vulnerable Situation Amid a Corporate Struggle
But CNN, now middle-aged, finds itself in a precarious position as two giant media corporations vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has been drawn into a high-risk game of business acquisition, not as a question of what serves the information-seeking public.
“This represents another instance of the deep structural problems with origins in many years of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a corporate drama with influential figures as the main characters, but there is hardly any discussion of the societal benefit,” Pickard said.
The Complicating Layer: Donald Trump
This situation is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” adversary.
Recall the cries of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that the network requires new ownership. You can read that as ownership that will shield him from criticism and scrutiny. That is one reason why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.
He has grounds to favor 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.
The company, owner of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
An Outcome of Further Instability
It is important to note, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. Such a move could be a welcome development to many at the network, but it’s not exactly a safe harbor. That structure could position CNN for another sale. There is no finish line.
If you ask Timothy Wu, a lot of this is against the law, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by regulators,” Wu argued.
The Bigger Problem and a Path Forward
No matter the outcome with this particular battle, the larger issue remains.
“The present media landscape is a profoundly structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can tackle it.
Can reform occur in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Reform is very unlikely now, but that is not to say it will be impossible forever.
Measures that strengthen independent news organizations, reinforce local journalism, subsidize public media, and outlaw the consolidation of media power in too few hands are within reach – they are vital for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN cannot be pawns in the latest acquisition battle.
