This past Thursday night, while unconfirmed reports spread about an incident at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Although CNN is certainly not a flawless news source, her words seemed accurate for numerous observers. It stands as one of the outlets where there exists fact-based and generally dependable reporting – particularly during fast-moving events such as the one unfolding close to a New Hampshire storage facility.
A Vulnerable Position During a Business Struggle
However CNN, now middle-aged, finds itself in a precarious position as two giant media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has been drawn into a high-stakes game of corporate ownership, not as a question of what helps the news-consuming public.
“This represents another instance of the profound systemic issues with origins in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The conjecture about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a larger point.
“The narrative is crafted as a financial tale with powerful individuals as the protagonists, but there is scant discussion of the societal benefit,” Pickard added.
A Further Factor: Donald Trump
The network's predicament is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” foe.
Remember the cries of “CNN sucks!” at his rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now claims 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 one reason why he appears to support Paramount Skydance, which has made a hostile bid.
Trump has reason to prefer that company more. For one thing, it is controlled 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 appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
An Outcome of Further Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. That would be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That setup could set up CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Each proposed deal would be bad for the country, and both should be contested by the government,” Wu argued.
The Fundamental Problem and a Way Ahead
No matter the outcome with this particular battle, the bigger problem endures.
“Our current system is a very system hostile to democracy, but we must resist the belief that change is impossible,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can fix it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is very unlikely now, but that should not imply it will be impossible forever.
Initiatives that support independent news organizations, aid local journalism, finance public media, and prevent the consolidation of media power in too few hands are not only possible – they are vital for a functioning democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN must not be pawns in the most recent merger game.
