Late Thursday, amid swirling speculation concerning a shooting 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.
While it is by no means a impeccable news source, her words resonated for numerous observers. It is one of the organizations where there exists grounded and largely reliable reporting – particularly during crises like the one developing close to a New Hampshire storage facility.
A Vulnerable Situation Amid a High-Stakes Tug-of-War
Yet CNN, now four and a half decades old, finds itself in a uncertain state as two huge media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has turned into a high-stakes game of business acquisition, rather than as a question of what benefits the news-consuming public.
“Here is one more case of the fundamental flaws with roots in decades of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The debate about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a more important point.
“The narrative is crafted as a financial tale with key players as the protagonists, but there is very little discussion of the societal benefit,” Pickard said.
A Further Layer: Donald Trump
This situation is complicated by Donald Trump’s views about a network he has long portrayed as perhaps his primary “fake news” foe.
Think back to the shouts of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is a factor in why he seems to support Paramount Skydance, which has made a hostile bid.
Trump has reason to like that bidder more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of Further Uncertainty
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. This might be a relief to many at the network, but it’s far from a secure position. That structure could position CNN for another sale. There is no finish line.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be challenged by regulators,” Wu recently wrote.
The Bigger Challenge and a Way Ahead
No matter the outcome in this situation, the bigger problem remains.
“What we have now is a highly system hostile to democracy, but we must resist learned helplessness,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and revised policy decisions can tackle it.
Is this likely in an era where the top communications regulator won’t even affirm that the agency is independent? Change is a distant prospect now, but that doesn’t mean it will be impossible forever.
Policies that support independent news organizations, bolster local journalism, finance public media, and prohibit the concentration of media power in very few hands are not only possible – they are necessary for a robust democracy.
In the world of media ownership, size does not equal quality. And news organizations such as CNN must not be pieces in the most recent corporate chess match.
