On Thursday evening, amid swirling speculation regarding a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and directing people to her channel's 9pm newscast.
Even though it is by no means a impeccable news source, her statement resonated for numerous observers. It remains one of the broadcasters where one can locate reality-based and mostly reliable reporting – especially during crises such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious Situation During a Corporate Tug-of-War
But CNN, now 45 years old, finds itself in a vulnerable position as two huge media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has turned into a high-stakes game of mergers and acquisitions, not as a question of what benefits the news-consuming public.
“This represents another instance of the profound systemic issues with roots in many years of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a corporate drama with influential figures as the main characters, but there is scant discussion of the public interest,” Pickard explained.
A Further Element: Donald Trump
This situation is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his chief “fake news” adversary.
Recall the cries of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will shield 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 hostile bid.
There is a basis to prefer that company 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, owner of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
An Outcome of Continued Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. This might be a relief to many at the network, but it’s far from a guarantee of stability. That structure could pave the way for CNN for a future sale. It never ends.
According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by the government,” Wu stated.
The Fundamental Problem and a Way Ahead
Whatever happens regarding CNN, the underlying crisis persists.
“Our current system is a highly anti-democratic system, but we must resist the belief that change is impossible,” Pickard noted. Policy decisions – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can fix it.
Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will never happen.
Measures that bolster independent news organizations, bolster local journalism, finance public media, and prohibit the consolidation of media power in very few hands are achievable – they are vital for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN shouldn’t be pieces in the latest corporate chess match.
