On Thursday evening, amid swirling speculation about a shooting at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
Although the network is hardly a flawless news source, her message seemed accurate for numerous observers. It is one of the broadcasters where one can locate fact-based and largely trustworthy reporting – notably during crises like the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable Position During a Corporate Battle
But the news network, now four and a half decades old, finds itself in a precarious position as two massive media empires battle over ownership of its parent company, 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 serves the news-consuming public.
“This is yet another example of the deep structural problems with origins in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a corporate drama with powerful individuals as the main characters, but there is scant discussion of the public interest,” Pickard explained.
The Complicating Layer: The Former President
This situation is complicated by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” adversary.
Recall the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is one reason why he seems to support Paramount Skydance, which has made a unsolicited offer.
He has grounds to like that company more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Possibility of More Instability
It is important to note, if Netflix prevails, CNN and other cable outlets would first be separated into a standalone company. That would be a relief to many at the network, but it’s far from a guarantee of stability. That arrangement could set up CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should block both deals.
“Either merger would be detrimental to the country, and both should be challenged by regulators,” Wu recently wrote.
The Bigger Problem and a Potential Solution
Whatever happens in this situation, the larger issue remains.
“Our current system is a profoundly anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Government actions – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can fix it.
Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Change is highly improbable now, but that is not to say it will be impossible forever.
Policies that support independent news organizations, reinforce local journalism, fund public media, and outlaw the consolidation of media power in a handful of hands are not only possible – they are necessary for a functioning democracy.
Regarding media ownership, bigger isn’t better. And news organizations including CNN must not be pieces in the newest acquisition battle.
