On Thursday evening, amid swirling speculation concerning a shooting at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
While it is by no means a impeccable news source, her statement seemed accurate for a lot of people. It remains one of the broadcasters where there exists fact-based and generally trustworthy reporting – especially during fast-moving events such as the one unfolding close to a New Hampshire storage facility.
A Precarious Situation During a High-Stakes Struggle
Yet CNN, now middle-aged, finds itself in a precarious situation as two massive media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has become part of a high-stakes game of business acquisition, rather than as a question of what helps the news-consuming public.
“This is yet another example of the fundamental flaws with origins in decades of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a corporate drama with powerful individuals as the protagonists, but there is very little discussion of the public interest,” Pickard added.
The Complicating Layer: Political Influence
This situation is made more complex by Donald Trump’s views about a network he has long portrayed as perhaps his primary “fake news” antagonist.
Remember the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now says that CNN needs new ownership. You can read that as ownership that will protect him from negative coverage and examination. That is one reason why he appears to favor Paramount Skydance, which has made a unsolicited offer.
Trump has reason to prefer that suitor more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently installed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Future of Continued Instability
Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a standalone company. This might be a welcome development to many at the network, but it’s far from a guarantee of stability. That structure could position CNN for another sale. The cycle continues.
According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by the government,” Wu stated.
The Bigger Problem and a Way Ahead
Regardless of the resolution in this situation, the underlying crisis endures.
“The present media landscape is a very anti-democratic system, but we must resist a sense of powerlessness,” Pickard said. Government actions – originating in the 1930s and 1940s – helped to create this overly commercial 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? Change is highly improbable now, but that doesn’t mean it will never happen.
Policies that bolster independent news organizations, aid local journalism, finance public media, and outlaw the accumulation of media power in very few hands are within reach – they are necessary for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN cannot be pieces in the latest acquisition battle.
