This past Thursday night, while unconfirmed reports spread regarding an incident at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and guiding the public to her channel's 9pm newscast.
Even though the network is hardly a impeccable news source, her statement seemed accurate to many. It is one of the organizations where there exists reality-based and mostly reliable reporting – especially during breaking news situations like the one developing close to a New Hampshire storage facility.
A Vulnerable State During a Business Battle
But the news network, now middle-aged, finds itself in a precarious position as two massive media empires compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has become part of a high-risk game of business acquisition, rather than as a question of what benefits the information-seeking public.
“This is yet another example of the deep structural problems with origins in many years of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The debate about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a business story with key players as the central actors, but there is scant discussion of the societal benefit,” Pickard added.
The Additional Element: The Former President
This situation is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Remember the shouts of “CNN sucks!” at his rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is part of why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.
Trump has reason to favor that suitor more. For one thing, it is run 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 right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Possibility of Further Turmoil
Notably, if Netflix prevails, 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 far from a safe harbor. That setup could position CNN for a future sale. The cycle continues.
If you ask Timothy Wu, a great deal of this is illegal, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by anti-trust authorities,” Wu stated.
The Bigger Issue and a Path Forward
Whatever happens regarding CNN, the larger issue persists.
“The present media landscape is a highly system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Policy decisions – from the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can fix it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is very unlikely now, but that should not imply it will never happen.
Measures that support independent news organizations, aid local journalism, subsidize public media, and prevent the consolidation of media power in too few hands are within reach – they are essential for a robust democracy.
Regarding media ownership, bigger isn’t better. And news organizations such as CNN must not be pieces in the latest acquisition battle.
