Late Thursday, as rumors swirled regarding an incident at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Even though CNN is certainly not a flawless news source, her words rang true for numerous observers. It is one of the organizations where you can find fact-based and largely trustworthy reporting – particularly during breaking news situations like the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain Position Amid a Business Battle
But the news network, now four and a half decades old, finds itself in a uncertain state as two huge media corporations compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has turned into a high-risk game of business acquisition, instead of as a question of what benefits the news-consuming public.
“Here is one more case of the profound systemic issues with roots in many years of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a financial tale with influential figures as the main characters, but there is very little discussion of the societal benefit,” Pickard added.
The Complicating Layer: 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 main “fake news” adversary.
Recall the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will protect him from negative coverage and examination. That is one reason why he appears to favor Paramount Skydance, which has made a unsolicited offer.
Trump has reason to prefer that company more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of Continued Turmoil
Significantly, if Netflix prevails, CNN and other cable outlets would first be separated into a standalone company. That would be a relief to many at the network, but it’s hardly a guarantee of stability. That setup could position CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should disallow both deals.
“Either merger would be bad for the country, and both should be opposed by regulators,” Wu stated.
The Core Issue and a Path Forward
Regardless of the resolution in this situation, the bigger problem remains.
“The present media landscape is a highly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Policy decisions – from the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can tackle it.
Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Reform is highly improbable now, but that is not to say it will never happen.
Policies that support independent news organizations, bolster local journalism, finance public media, and outlaw the consolidation of media power in too few hands are not only possible – they are necessary for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN shouldn’t be tools in the newest acquisition battle.
