This past Thursday night, while unconfirmed reports spread regarding a shooting at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
While CNN is certainly not a perfect news source, her words rang true for a lot of people. It remains one of the outlets where there exists fact-based and mostly trustworthy reporting – notably during fast-moving events like the one taking place near a New Hampshire storage facility.
A Precarious State During a High-Stakes Struggle
Yet the news network, now four and a half decades old, finds itself in a uncertain state as two giant media empires battle over ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has been drawn into a major game of business acquisition, instead of as a question of what helps the news-consuming public.
“Here is one more case of the deep structural problems with origins in decades of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a business story with powerful individuals as the central actors, but there is hardly any discussion of the societal benefit,” Pickard added.
The Complicating Factor: The Former President
This situation is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his chief “fake news” foe.
Remember the shouts of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is part of why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to prefer that suitor more. For one thing, it is controlled by David Ellison, son of the pro-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 venerable news network.
An Outcome of More Instability
It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a separate entity. That would be a relief to many at the network, but it’s hardly a secure position. That structure could position CNN for a future sale. It never ends.
If you ask Timothy Wu, a great deal 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 harmful to the country, and both should be contested by regulators,” Wu recently wrote.
The Bigger Issue and a Potential Solution
Regardless of the resolution in this situation, the bigger problem remains.
“The present media landscape is a highly structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can address it.
Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Change is highly improbable now, but that is not to say it will never happen.
Policies that support independent news organizations, reinforce local journalism, finance public media, and outlaw the concentration of media power in a handful of hands are achievable – they are essential for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN shouldn’t be pawns in the latest corporate chess match.
