This past Thursday night, as rumors swirled regarding the Brown University gunman, CNN’s Kaitlan Collins posted on social media, noting the confusion and directing people to her channel's 9pm newscast.
Although CNN is certainly not a impeccable news source, her message seemed accurate for numerous observers. It stands as one of the organizations where you can find reality-based and largely reliable reporting – especially during crises such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious State Amid a Business Struggle
However the news network, now middle-aged, finds itself in a vulnerable state as two huge media corporations vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has become part of a major game of corporate ownership, instead of as a question of what serves the information-seeking public.
“This is yet another example of the profound systemic issues with roots in decades of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a financial tale with key players as the protagonists, but there is scant discussion of the public interest,” Pickard added.
The Additional Element: The Former President
The network's predicament is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” adversary.
Think back to the shouts of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will insulate him from criticism and scrutiny. That is part of why he seems to support Paramount Skydance, which has made a hostile bid.
There is a basis to favor 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, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.
An Outcome of Further Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. That would be a relief to many at the network, but it’s hardly a safe harbor. That structure could pave the way for CNN for another sale. There is no finish line.
In the view of Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by the government,” Wu recently wrote.
The Fundamental Problem and a Way Ahead
Whatever happens regarding CNN, the bigger problem persists.
“Our current system is a very structure that undermines democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Government actions – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and revised 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? Overhaul is a distant prospect now, but that doesn’t mean it will be impossible forever.
Policies that support independent news organizations, bolster local journalism, fund public media, and outlaw the accumulation of media power in a handful of hands are within reach – they are vital for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations such as CNN cannot be tools in the latest merger game.
