On Thursday evening, as rumors swirled about a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Even though the network is hardly a flawless news source, her words resonated to many. It stands as one of the organizations where you can find fact-based and largely dependable reporting – especially during fast-moving events such as the one taking place close to a New Hampshire storage facility.
A Vulnerable Position During a High-Stakes Battle
But the news network, now four and a half decades old, finds itself in a uncertain state as two giant media empires compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has been drawn into a high-stakes game of business acquisition, rather than as a question of what serves the information-seeking public.
“This represents another instance of the fundamental flaws with roots in decades of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“The narrative is crafted as a corporate drama with influential figures as the main characters, but there is very little discussion of the societal benefit,” Pickard explained.
The Additional Element: The Former President
The CNN scenario is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” antagonist.
Recall the cries of “CNN sucks!” at the president’s rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is a factor in why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to favor 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.
Paramount, owner of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of Continued Turmoil
Notably, if Netflix wins, 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 far from a secure position. That setup could pave the way for CNN for a future sale. The cycle continues.
According to Timothy Wu, a great deal of this is against the law, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Each proposed deal would be bad for the country, and both should be contested by regulators,” Wu stated.
The Fundamental Challenge and a Way Ahead
Regardless of the resolution with this particular battle, the underlying crisis persists.
“The present media landscape is a very anti-democratic system, but we ought not succumb to learned helplessness,” Pickard said. Policy decisions – originating in the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can address it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will not happen in the future.
Initiatives that bolster independent news organizations, reinforce local journalism, finance public media, and outlaw the accumulation of media power in very few 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 tools in the newest acquisition battle.
