Late Thursday, while unconfirmed reports spread concerning the Brown University gunman, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Although it is by no means a perfect news source, her statement rang true to many. It stands as one of the organizations where there exists grounded and largely trustworthy reporting – notably during fast-moving events such as the one taking place near a New Hampshire storage facility.
An Uncertain Position Amid a Corporate Battle
Yet CNN, now four and a half decades old, finds itself in a uncertain state as two giant media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has become part of a high-stakes game of mergers and acquisitions, instead of as a question of what benefits the information-seeking public.
“This is yet another example of the fundamental flaws with roots in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The debate about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a corporate drama with key players as the protagonists, but there is very little discussion of the societal benefit,” Pickard added.
A Further Factor: Political Influence
The network's predicament is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” adversary.
Think back to the shouts of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is a factor in why he seems to favor Paramount Skydance, which has made a hostile bid.
He has grounds to like that suitor more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of Continued Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. That would be a relief to many at the network, but it’s not exactly a safe harbor. That arrangement could position CNN for a future sale. The cycle continues.
If you ask Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by the government,” Wu argued.
The Fundamental Challenge and a Potential Solution
Whatever happens regarding CNN, the bigger problem remains.
“What we have now is a profoundly structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard said. Government actions – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised policy decisions can address it.
Can reform occur in an era where the head of the FCC won’t even affirm that the agency is independent? Change is very unlikely now, but that should not imply it will never happen.
Policies that support independent news organizations, aid local journalism, fund public media, and prevent the accumulation of media power in very few hands are achievable – they are vital for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN must not be tools in the latest corporate chess match.
