On Thursday evening, amid swirling speculation about an incident at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though CNN is certainly not a perfect news source, her message rang true for numerous observers. It remains one of the broadcasters where there exists reality-based and generally trustworthy reporting – notably during breaking news situations like the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain State During a Corporate Struggle
However CNN, now middle-aged, finds itself in a precarious state as two huge media empires vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has turned into a high-stakes game of business acquisition, instead of as a question of what benefits the information-seeking public.
“This is yet another example of the profound systemic issues with roots in many years of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a corporate drama with powerful individuals as the central actors, but there is scant discussion of the societal benefit,” Pickard said.
The Complicating Factor: Donald Trump
The network's predicament is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” adversary.
Recall the shouts of “CNN sucks!” at his rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is a factor in why he appears to favor Paramount Skydance, which has made a unsolicited offer.
He has grounds to like that bidder more. For one thing, it is controlled 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 top editor of that venerable news network.
A Possibility of More Uncertainty
It is important to note, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a welcome development to many at the network, but it’s hardly a safe harbor. That structure could pave the way for CNN for yet another acquisition. There is no finish line.
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 prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by the government,” Wu recently wrote.
The Bigger Problem and a Potential Solution
No matter the outcome regarding CNN, the larger issue endures.
“The present media landscape is a very anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can fix it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Change is very unlikely now, but that doesn’t mean it will never happen.
Measures that strengthen independent news organizations, aid local journalism, fund public media, and prohibit the concentration of media power in too few hands are not only possible – they are necessary for a functioning democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN must not be pieces in the newest acquisition battle.
