On Thursday evening, while unconfirmed reports spread concerning a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
While the network is hardly a perfect news source, her words rang true to many. It remains one of the broadcasters where one can locate grounded and largely trustworthy reporting – especially during crises such as the one taking place near a New Hampshire storage facility.
An Uncertain Situation Amid a Business Battle
But the news network, now 45 years old, finds itself in a vulnerable state as two massive media empires vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has become part of a high-risk game of corporate ownership, rather than as a question of what helps the information-seeking public.
“This represents another instance of the fundamental flaws with origins in many years of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The conjecture about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a corporate drama with powerful individuals as the protagonists, but there is hardly any discussion of the public interest,” Pickard explained.
A Further Layer: Donald Trump
The CNN scenario is made more complex by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his chief “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 tense exchanges with Collins in White House briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is part of why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to favor that suitor more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of Further Instability
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. That would be a welcome development to many at the network, but it’s far from a secure position. That structure could set up CNN for another sale. It never ends.
According to Timothy Wu, a great deal of this is against the law, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by regulators,” Wu stated.
The Fundamental Problem and a Path Forward
Whatever happens regarding CNN, the bigger problem persists.
“Our current system is a highly structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can address it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Reform is highly improbable now, but that should not imply it will not happen in the future.
Policies that strengthen independent news organizations, bolster local journalism, fund public media, and prevent the concentration of media power in too few hands are achievable – they are necessary for a functioning democracy.
Regarding media ownership, size does not equal quality. And news organizations such as CNN shouldn’t be pieces in the latest corporate chess match.
