On Thursday evening, while unconfirmed reports spread about an incident at Brown University, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
Even though it is by no means a perfect news source, her words rang true for numerous observers. It is one of the broadcasters where there exists reality-based and mostly trustworthy reporting – particularly during breaking news situations like the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain Situation Amid a High-Stakes Tug-of-War
However CNN, now middle-aged, finds itself in a vulnerable state as two giant media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has been drawn into a high-stakes game of business acquisition, rather than as a question of what serves the information-seeking public.
“This represents another instance of the profound systemic issues with origins in many years of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The debate about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“It is often framed as a financial tale with influential figures as the central actors, but there is scant discussion of the societal benefit,” Pickard added.
A Further Factor: The Former President
The CNN scenario is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Think back to the chants of “CNN sucks!” at his rallies, his administration’s punitive revocation 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 protect him from journalistic oversight. That is part of why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to favor 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 placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of Further Turmoil
Significantly, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. Such a move could be a welcome development to many at the network, but it’s hardly a guarantee of stability. That setup could set up CNN for yet another acquisition. It never ends.
If you ask Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance stated that competition laws should disallow both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Bigger Problem and a Way Ahead
Regardless of the resolution regarding CNN, the underlying crisis persists.
“Our current system is a profoundly system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and different policy decisions can fix it.
Is this likely in an era where the top communications regulator won’t even affirm that the agency is independent? Reform is highly improbable now, but that is not to say it will never happen.
Initiatives that strengthen independent news organizations, reinforce local journalism, finance public media, and prevent the concentration of media power in too few hands are achievable – they are essential for a functioning democracy.
In the world of media ownership, bigger isn’t better. And news organizations such as CNN must not be tools in the latest corporate chess match.
