On Thursday evening, as rumors swirled regarding a shooting at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
Although it is by no means a perfect news source, her message seemed accurate for numerous observers. It is one of the outlets where there exists fact-based and generally reliable reporting – especially during crises such as the one taking place close to a New Hampshire storage facility.
A Precarious Situation During a High-Stakes Battle
Yet CNN, now middle-aged, finds itself in a vulnerable situation as two huge media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has turned into a high-stakes game of corporate ownership, rather than as a question of what benefits the information-seeking public.
“This represents another instance of the fundamental flaws with roots in many years of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
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 key players as the central actors, but there is very little discussion of the public interest,” Pickard explained.
The Additional Element: Political Influence
The network's predicament is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” foe.
Remember the cries of “CNN sucks!” at his rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that the network requires new ownership. You can read that as ownership that will shield him from negative coverage and examination. That is one reason why he appears to favor Paramount Skydance, which has made a hostile bid.
Trump has reason to like that bidder 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, parent of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of More Turmoil
It is important to note, 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 not exactly a safe harbor. That arrangement could pave the way for CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Each proposed deal would be bad for the country, and both should be contested by anti-trust authorities,” Wu recently wrote.
The Core Challenge and a Path Forward
No matter the outcome regarding CNN, the underlying crisis persists.
“Our current system is a very structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can fix it.
Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Change is very unlikely now, but that should not imply it will not happen in the future.
Measures that bolster independent news organizations, reinforce local journalism, fund public media, and prevent the accumulation of media power in a handful of hands are not only possible – they are essential for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations like CNN shouldn’t be pawns in the most recent merger game.
