On Thursday evening, as rumors swirled about an incident at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Although CNN is certainly not a flawless news source, her words resonated to many. It stands as one of the broadcasters where you can find reality-based and generally trustworthy reporting – notably during crises such as the one developing near a New Hampshire storage facility.
A Precarious State During a High-Stakes Tug-of-War
Yet CNN, now four and a half decades old, finds itself in a vulnerable state as two massive media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a major game of corporate ownership, instead of as a question of what benefits the information-seeking public.
“This is yet another example of the deep structural problems with roots in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It gets presented as a business story with influential figures as the protagonists, but there is hardly any discussion of the societal benefit,” Pickard added.
The Complicating Factor: The Former President
The network's predicament is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” foe.
Think back to the shouts of “CNN sucks!” at the president’s rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now asserts that the network requires new ownership. This can be interpreted as ownership that will shield 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 suitor 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 appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
An Outcome of More Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a separate entity. Such a move could be a welcome development to many at the network, but it’s hardly a secure position. That structure could pave the way for CNN for another sale. There is no finish line.
If you ask Timothy Wu, a great deal of this is illegal, anyway. The influential voice of big tech’s dominance wrote recently that competition laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Core Problem and a Way Ahead
Whatever happens with this particular battle, the larger issue endures.
“What we have now is a profoundly system hostile to democracy, but we must resist the belief that change is impossible,” Pickard said. Government actions – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can tackle it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will not happen in the future.
Measures that bolster independent news organizations, bolster local journalism, finance public media, and prevent the accumulation of media power in a handful of hands are achievable – they are essential for a robust democracy.
Regarding media ownership, size does not equal quality. And news organizations like CNN cannot be tools in the latest acquisition battle.
