Late Thursday, while unconfirmed reports spread regarding a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and directing people to her network’s 9pm newscast.
Although the network is hardly a perfect news source, her statement resonated for a lot of people. It is one of the outlets where one can locate grounded and generally trustworthy reporting – especially during fast-moving events like the one taking place near a New Hampshire storage facility.
An Uncertain Situation Amid a High-Stakes Struggle
Yet CNN, now middle-aged, finds itself in a vulnerable position as two giant media empires vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has turned into a high-risk game of corporate ownership, rather than as a question of what benefits the news-consuming public.
“This is yet another example of the profound systemic issues with roots in many years of governmental choices,” 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? – fails to grasp a larger point.
“It is often framed as a financial tale with key players as the central actors, but there is very little discussion of the societal benefit,” Pickard said.
The Additional Element: Political Influence
This situation is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” foe.
Remember the chants of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is a factor in why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like 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.
The company, parent of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Future of More Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a independent unit. This might be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That setup could set up CNN for a future sale. There is no finish line.
In the view of Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be challenged by regulators,” Wu stated.
The Bigger Challenge and a Way Ahead
Regardless of the resolution in this situation, the underlying crisis remains.
“Our current system is a profoundly anti-democratic system, but we ought not succumb to learned helplessness,” Pickard said. Government actions – originating in 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 will not confirm that the agency is independent? Reform is a distant prospect now, but that doesn’t mean it will be impossible forever.
Measures that strengthen independent news organizations, bolster local journalism, fund public media, and prevent the accumulation of media power in too few hands are within reach – they are necessary for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations such as CNN must not be pieces in the most recent acquisition battle.
