This past Thursday night, amid swirling speculation about the Brown University gunman, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
Although the network is hardly a impeccable news source, her statement seemed accurate for numerous observers. It remains one of the outlets where there exists grounded and mostly trustworthy reporting – particularly during fast-moving events such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious Position During a High-Stakes Battle
Yet CNN, now middle-aged, finds itself in a vulnerable position as two massive media empires compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has become part of a high-risk game of corporate ownership, instead of as a question of what helps the information-seeking public.
“This represents another instance of the fundamental flaws with origins in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“It gets presented as a financial tale with influential figures as the main characters, but there is very little discussion of the societal benefit,” Pickard explained.
A Further Factor: Political Influence
The CNN scenario is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” foe.
Think back to the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is a factor in why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to prefer that bidder more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Future of Continued Instability
Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a standalone company. Such a move could be a welcome development to many at the network, but it’s hardly a safe harbor. That arrangement could set up CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, a great deal of this is illegal, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by the government,” Wu argued.
The Fundamental Issue and a Path Forward
No matter the outcome regarding CNN, the bigger problem remains.
“What we have now is a highly structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard noted. Government actions – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and new policy decisions can tackle it.
Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is highly improbable now, but that is not to say it will never happen.
Initiatives that strengthen independent news organizations, aid local journalism, subsidize public media, and prohibit the concentration of media power in too few hands are within reach – they are vital for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations such as CNN cannot be pieces in the latest corporate chess match.
