This past Thursday night, as rumors swirled regarding a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
While it is by no means a flawless news source, her words resonated for numerous observers. It is one of the outlets where you can find reality-based and generally dependable reporting – especially during breaking news situations such as the one unfolding close to a New Hampshire storage facility.
An Uncertain State Amid a High-Stakes Tug-of-War
However the news network, now middle-aged, finds itself in a precarious position as two massive media empires vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has been drawn into a high-risk game of corporate ownership, rather than as a question of what serves the information-seeking public.
“This is yet another example of the deep structural problems with origins in many years of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a business story with powerful individuals as the central actors, but there is scant discussion of the common good,” Pickard explained.
The Complicating Factor: Donald Trump
This situation is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his primary “fake news” foe.
Recall the cries of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now asserts 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 a factor in why he appears to favor Paramount Skydance, which has made a hostile bid.
He has grounds to favor that company 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 installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of Further Instability
Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a standalone company. Such a move could be a relief to many at the network, but it’s hardly a safe harbor. That structure could set up CNN for a future sale. It never ends.
In the view of Timothy Wu, a great deal of this is illegal, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Either merger would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Bigger Challenge and a Path Forward
Whatever happens regarding CNN, the underlying crisis endures.
“The present media landscape is a highly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Government actions – 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 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, bolster local journalism, finance public media, and outlaw the accumulation of media power in too few hands are within reach – they are vital for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pieces in the most recent corporate chess match.
