Late Thursday, amid swirling speculation about a shooting at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
Even though CNN is certainly not a flawless news source, her words rang true to many. It is one of the outlets where one can locate grounded and generally reliable reporting – particularly during breaking news situations like the one unfolding close to a New Hampshire storage facility.
An Uncertain Situation During a High-Stakes Battle
However CNN, now 45 years old, finds itself in a precarious position as two huge media corporations battle over ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has turned into a high-risk game of business acquisition, rather than as a question of what helps the information-seeking public.
“This is yet another example of the fundamental flaws with origins in decades of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“It gets presented as a business story with powerful individuals as the central actors, but there is very little discussion of the societal benefit,” Pickard added.
A Further Element: Political Influence
This situation is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” adversary.
Think back to the chants of “CNN sucks!” at his rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is part of why he seems to come down on the side of Paramount Skydance, which has made a unsolicited offer.
He has grounds to favor that bidder 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 appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Possibility of More Turmoil
It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. This might be a relief to many at the network, but it’s not exactly a safe harbor. That setup could position CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Either merger would be bad for the country, and both should be opposed by the government,” Wu recently wrote.
The Bigger Problem and a Path Forward
No matter the outcome in this situation, the larger issue persists.
“Our current system is a profoundly system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can address it.
Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Change is very unlikely now, but that should not imply it will be impossible forever.
Initiatives that strengthen independent news organizations, aid local journalism, subsidize public media, and prevent the concentration of media power in a handful of hands are not only possible – they are essential for a functioning democracy.
In the world of media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be pawns in the latest acquisition battle.
