This past Thursday night, amid swirling speculation about a shooting at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
While CNN is certainly not a flawless news source, her words resonated for numerous observers. It stands as one of the broadcasters where there exists fact-based and mostly reliable reporting – notably during crises such as the one developing close to a New Hampshire storage facility.
A Vulnerable Situation During a High-Stakes Struggle
Yet CNN, now 45 years old, finds itself in a precarious state as two giant media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has been drawn into a major game of business acquisition, not as a question of what benefits the information-seeking public.
“Here is one more case of the profound systemic issues with roots in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a financial tale with influential figures as the main characters, but there is hardly any discussion of the societal benefit,” Pickard said.
A Further Element: Donald Trump
The network's predicament is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Remember the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will insulate 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 favor that suitor more. For one thing, it is controlled 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 installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Possibility of More Instability
Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s not exactly a safe harbor. That setup could set up CNN for another sale. It never ends.
If you ask Timothy Wu, a great deal of this is illegal, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by regulators,” Wu stated.
The Core Challenge and a Potential Solution
No matter the outcome in this situation, the bigger problem remains.
“What we have now is a very system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can fix it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Change is very unlikely now, but that is not to say it will never happen.
Initiatives that strengthen independent news organizations, bolster local journalism, finance public media, and prevent the concentration of media power in a handful of hands are within reach – they are vital for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN must not be pawns in the latest acquisition battle.
