On Thursday evening, while unconfirmed reports spread about the Brown University gunman, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
Even though it is by no means a impeccable news source, her words seemed accurate to many. It stands as one of the broadcasters where one can locate grounded and largely reliable reporting – particularly during breaking news situations like the one taking place near a New Hampshire storage facility.
A Precarious State Amid a Business Tug-of-War
Yet the news network, now four and a half decades old, finds itself in a precarious situation as two massive media corporations battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a major game of corporate ownership, not as a question of what serves the information-seeking public.
“Here is one more case of the fundamental flaws with roots in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The debate about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a financial tale with key players as the central actors, but there is very little discussion of the common good,” Pickard explained.
The Additional Element: Donald Trump
The network's predicament is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” adversary.
Recall the shouts of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to prefer that bidder more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that venerable news network.
An Outcome of More Uncertainty
Significantly, if Netflix prevails, 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 safe harbor. That arrangement could set up CNN for a future sale. It never ends.
If you ask Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.
“Either merger would be detrimental to the country, and both should be challenged by regulators,” Wu argued.
The Fundamental Issue and a Path Forward
No matter the outcome regarding CNN, the bigger problem remains.
“Our current system is a very structure that undermines democracy, but we ought not succumb to learned helplessness,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can address it.
Can reform occur in an era where the head of the FCC refuses to acknowledge that the agency is independent? Reform is a distant prospect now, but that should not imply it will not happen in the future.
Initiatives that strengthen independent news organizations, aid local journalism, fund public media, and prohibit the concentration of media power in too few hands are not only possible – they are essential for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be pieces in the most recent acquisition battle.
