This past Thursday night, amid swirling speculation regarding the Brown University gunman, CNN’s Kaitlan Collins took to social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Even though it is by no means a perfect news source, her message resonated for numerous observers. It is one of the organizations where one can locate grounded and generally reliable reporting – particularly during breaking news situations like the one unfolding close to a New Hampshire storage facility.
A Precarious Position During a Business Struggle
Yet CNN, now four and a half decades old, finds itself in a uncertain state as two giant media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a high-stakes game of business acquisition, not as a question of what helps the information-seeking public.
“This is yet another example of the fundamental flaws with roots in decades of policy decisions,” 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 – will it be Netflix or Paramount Skydance? – misses a broader point.
“It gets presented as a corporate drama with influential figures as the protagonists, but there is scant discussion of the societal benefit,” Pickard explained.
The Complicating Element: Donald Trump
The network's predicament is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Recall the shouts of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is a factor in why he appears to favor Paramount Skydance, which has made a hostile bid.
There is a basis to favor that company more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
An Outcome of Further Turmoil
Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s far from a guarantee of stability. That setup could position CNN for another sale. The cycle continues.
If you ask Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance stated that competition laws should disallow both deals.
“Each proposed deal would be detrimental to the country, and both should be contested by anti-trust authorities,” Wu argued.
The Core Issue and a Path Forward
Regardless of the resolution with this particular battle, the underlying crisis endures.
“Our current system is a profoundly structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and new policy decisions can tackle it.
Is this likely 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 is not to say it will be impossible forever.
Initiatives that bolster independent news organizations, bolster local journalism, finance public media, and prevent the accumulation of media power in very few hands are not only possible – they are essential for a robust democracy.
When it comes to media ownership, size does not equal quality. And news organizations like CNN cannot be tools in the latest acquisition battle.
