On Thursday evening, as rumors swirled concerning an incident at Brown University, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Even though CNN is certainly not a impeccable news source, her message seemed accurate for numerous observers. It stands as one of the broadcasters where you can find grounded and generally dependable reporting – particularly during breaking news situations like the one developing in the vicinity of a New Hampshire storage facility.
A Vulnerable Situation Amid a Business Tug-of-War
However the news network, now middle-aged, finds itself in a uncertain position as two massive media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny 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 fundamental flaws with roots in decades of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It gets presented as a financial tale with key players as the main characters, but there is scant discussion of the societal benefit,” Pickard said.
The Complicating Factor: The Former President
This situation is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Recall the chants of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now claims that the network requires new ownership. You can read that as ownership that will insulate him from criticism and scrutiny. That is part of why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
Trump has reason to like 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, parent of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that storied news network.
An Outcome of More Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a separate entity. That would be a welcome development to many at the network, but it’s far from a secure position. That setup could pave the way for CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be contested by the government,” Wu argued.
The Bigger Challenge and a Potential Solution
No matter the outcome regarding CNN, the bigger problem endures.
“Our current system is a profoundly system hostile to democracy, but we must resist the belief that change is impossible,” Pickard noted. Government actions – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can fix it.
Will that happen in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Change is very unlikely now, but that doesn’t mean it will be impossible forever.
Measures that support independent news organizations, aid local journalism, subsidize public media, and prohibit the concentration of media power in very few hands are not only possible – they are necessary for a robust democracy.
Regarding media ownership, size does not equal quality. And news organizations like CNN shouldn’t be tools in the latest acquisition battle.
