On Thursday evening, while unconfirmed reports spread about a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
Although it is by no means a flawless news source, her message seemed accurate for numerous observers. It stands as one of the organizations where one can locate grounded and largely dependable reporting – notably during fast-moving events such as the one taking place near a New Hampshire storage facility.
An Uncertain State Amid a Business Tug-of-War
But the news network, now four and a half decades old, finds itself in a vulnerable state as two huge media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a high-risk game of business acquisition, not as a question of what serves the information-seeking public.
“This represents another instance of the fundamental flaws with origins in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation 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 powerful individuals as the protagonists, but there is scant discussion of the public interest,” Pickard explained.
The Additional Layer: Donald Trump
The network's predicament is made more complex by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” adversary.
Recall the shouts of “CNN sucks!” at the president’s rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is part of why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.
There is a basis to like that suitor 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 appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Possibility of More Instability
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a separate entity. That would be a welcome development to many at the network, but it’s far from a guarantee of stability. That structure could position CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Either merger would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Core Challenge and a Way Ahead
No matter the outcome with this particular battle, the underlying crisis remains.
“The present media landscape is a highly structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Policy decisions – originating in the 1930s and 1940s – helped to foster this overly commercial monster, and new policy decisions can address it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Reform 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 concentration of media power in too few hands are not only possible – they are essential for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations such as CNN shouldn’t be pieces in the newest corporate chess match.
