Late Thursday, while unconfirmed reports spread regarding the Brown University gunman, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her channel'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 fact-based and largely trustworthy reporting – notably during breaking news situations like the one developing in the vicinity of a New Hampshire storage facility.
A Vulnerable Position During a Corporate Tug-of-War
Yet the news network, now middle-aged, finds itself in a uncertain position as two giant media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has become part of a major game of business acquisition, rather than as a question of what helps the information-seeking public.
“This is yet another example of the profound systemic issues with origins in many years of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a larger point.
“It gets presented as a financial tale with influential figures as the protagonists, but there is scant discussion of the societal benefit,” Pickard said.
The Complicating Factor: Political Influence
The CNN scenario is further muddied 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 team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is one reason why he seems to support Paramount Skydance, which has made a hostile bid.
There is a basis to like that bidder more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of More Instability
Significantly, if Netflix is successful, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a relief to many at the network, but it’s hardly a guarantee of stability. That setup could pave the way for CNN for another sale. There is no finish line.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Either merger would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu recently wrote.
The Core Issue and a Path Forward
No matter the outcome regarding CNN, the bigger problem persists.
“Our current system is a highly anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Government actions – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can fix it.
Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Reform is a distant prospect now, but that doesn’t mean it will never happen.
Policies that bolster independent news organizations, bolster local journalism, subsidize public media, and outlaw the accumulation of media power in very few hands are not only possible – they are vital for a robust democracy.
When it comes to media ownership, size does not equal quality. And news organizations like CNN shouldn’t be pieces in the most recent acquisition battle.
