On Thursday evening, while unconfirmed reports spread regarding an incident at Brown University, CNN’s Kaitlan Collins took to 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 words rang true for numerous observers. It is one of the outlets where there exists fact-based and largely reliable reporting – particularly during breaking news situations such as the one taking place near a New Hampshire storage facility.
A Vulnerable Situation Amid a High-Stakes Tug-of-War
Yet CNN, now four and a half decades old, finds itself in a uncertain state as two huge media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has become part of a high-risk game of corporate ownership, instead of as a question of what helps the news-consuming public.
“This is yet another example of the deep structural problems with roots in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The conjecture about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.
“It gets presented as a corporate drama with influential figures as the main characters, but there is hardly any discussion of the public interest,” Pickard explained.
A Further Element: Donald Trump
The CNN scenario is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” antagonist.
Remember the cries of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his tense exchanges 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 favor Paramount Skydance, which has made a hostile bid.
Trump has reason to prefer that bidder more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of More Instability
Significantly, if Netflix prevails, CNN and other cable outlets would first be separated into a standalone company. 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 another sale. There is no finish line.
If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that competition laws should block both deals.
“Each proposed deal would be bad for the country, and both should be opposed by the government,” Wu recently wrote.
The Bigger Challenge and a Path Forward
Whatever happens regarding CNN, the larger issue remains.
“What we have now is a very structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to foster this overly commercial monster, and different policy decisions can tackle it.
Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will be impossible forever.
Measures that strengthen independent news organizations, aid local journalism, subsidize public media, and prevent the consolidation of media power in very few hands are achievable – they are essential for a healthy democracy.
In the world of media ownership, size does not equal quality. And news organizations including CNN must not be pieces in the newest acquisition battle.
