Late Thursday, as rumors swirled about a shooting at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Although the network is hardly a perfect news source, her words resonated for numerous observers. It is one of the outlets where one can locate grounded and generally trustworthy reporting – particularly during crises like the one taking place close to a New Hampshire storage facility.
A Vulnerable Situation During a Corporate Tug-of-War
Yet CNN, now middle-aged, finds itself in a uncertain position as two giant media empires compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has been drawn into a high-stakes game of corporate ownership, instead of as a question of what helps the news-consuming public.
“This represents another instance of the fundamental flaws with origins in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a financial tale with powerful individuals as the main characters, but there is hardly any discussion of the common good,” Pickard explained.
The Complicating Factor: Political Influence
The CNN scenario is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” adversary.
Recall the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is part of why he appears to support Paramount Skydance, which has made a unsolicited offer.
Trump has reason to like that suitor more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
An Outcome of Continued Instability
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. This might be a welcome development to many at the network, but it’s far from a safe harbor. That structure could pave the way for CNN for a future sale. The cycle continues.
In the view of Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be contested by the government,” Wu recently wrote.
The Fundamental Challenge and a Path Forward
Regardless of the resolution regarding CNN, the underlying crisis remains.
“Our current system is a highly system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can fix it.
Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Overhaul is very unlikely now, but that should not imply it will be impossible forever.
Initiatives that support independent news organizations, bolster local journalism, finance public media, and outlaw the consolidation of media power in a handful of hands are within reach – they are essential for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN must not be pawns in the newest corporate chess match.
