This past Thursday night, as rumors swirled concerning an incident at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
While CNN is certainly not a perfect news source, her words rang true for numerous observers. It is one of the organizations where you can find reality-based and generally trustworthy reporting – particularly during crises like the one developing in the vicinity of a New Hampshire storage facility.
A Precarious State Amid a Business Tug-of-War
But the news network, now 45 years old, finds itself in a uncertain position as two giant media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a major game of mergers and acquisitions, instead of as a question of what serves the news-consuming public.
“This is yet another example of the profound systemic issues with roots in decades of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a corporate drama with key players as the protagonists, but there is scant discussion of the common good,” Pickard added.
A Further Element: Donald Trump
The CNN scenario is complicated by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his chief “fake news” adversary.
Think back to the chants of “CNN sucks!” at his rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will shield 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 controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that storied news network.
An Outcome of Continued Turmoil
Significantly, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. This might be a relief to many at the network, but it’s hardly a guarantee of stability. That arrangement could set up CNN for a future sale. There is no finish line.
In the view of Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that competition laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Bigger Problem and a Potential Solution
No matter the outcome in this situation, the larger issue persists.
“Our current system is a highly structure that undermines democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can tackle it.
Will that happen in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is a distant prospect now, but that doesn’t mean it will never happen.
Measures that strengthen independent news organizations, aid local journalism, subsidize public media, and prohibit the consolidation of media power in a handful of hands are not only possible – they are vital for a healthy democracy.
In the world of media ownership, size does not equal quality. And news organizations like CNN cannot be pawns in the newest corporate chess match.
