On Thursday evening, as rumors swirled regarding an incident at Brown University, CNN’s Kaitlan Collins took to social media, noting the confusion and directing people to her channel's 9pm newscast.
Even though CNN is certainly not a impeccable news source, her statement resonated for numerous observers. It is one of the broadcasters where one can locate fact-based and generally trustworthy reporting – especially during crises like the one developing close to a New Hampshire storage facility.
An Uncertain Situation Amid a High-Stakes Battle
Yet CNN, now 45 years old, finds itself in a vulnerable position as two giant media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has turned into a high-risk game of corporate ownership, instead of as a question of what helps the information-seeking public.
“This is yet another example of the deep structural problems with origins in many years of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a corporate drama with influential figures as the main characters, but there is very little discussion of the societal benefit,” Pickard explained.
The Additional Element: Political Influence
The network's predicament is complicated by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his chief “fake news” antagonist.
Recall the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is a factor in why he appears to support Paramount Skydance, which has made a hostile bid.
Trump has reason to prefer that company more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Possibility of Continued Turmoil
It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a independent unit. Such a move could be a relief to many at the network, but it’s far from a guarantee of stability. That setup could pave the way for CNN for another sale. The cycle continues.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.
“Either merger would be bad for the country, and both should be contested by regulators,” Wu argued.
The Fundamental Problem and a Path Forward
No matter the outcome with this particular battle, the larger issue endures.
“The present media landscape is a highly structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard noted. Policy decisions – originating in the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can address it.
Will that happen in an era where the head of the FCC won’t even affirm that the agency is independent? Reform is very unlikely now, but that should not imply it will be impossible forever.
Measures that bolster independent news organizations, aid local journalism, fund public media, and prevent the consolidation of media power in a handful of hands are not only possible – they are necessary for a robust democracy.
In the world of media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be pieces in the newest acquisition battle.
