On Thursday evening, amid swirling speculation concerning an incident at Brown University, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
Although it is by no means a perfect news source, her message rang true for numerous observers. It is one of the organizations where you can find grounded and generally trustworthy reporting – especially during breaking news situations such as the one unfolding near a New Hampshire storage facility.
A Precarious Situation Amid a High-Stakes Struggle
Yet the news network, now middle-aged, finds itself in a precarious state as two giant media empires vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a major game of corporate ownership, instead of as a question of what serves the information-seeking public.
“This represents another instance of the deep structural problems with origins in decades of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a financial tale with key players as the protagonists, but there is very little discussion of the public interest,” Pickard added.
The Additional Element: The Former President
The network's predicament 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 shouts of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is one reason why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to favor that company 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.
The company, parent of CBS News, also recently installed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Future of Further Uncertainty
Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a independent unit. Such a move could be a relief to many at the network, but it’s far from a secure position. That structure could set up CNN for a future 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 competition laws should prohibit both deals.
“Each proposed deal would be bad for the country, and both should be opposed by the government,” Wu argued.
The Fundamental Issue and a Way Ahead
No matter the outcome in this situation, the bigger problem persists.
“Our current system is a profoundly structure that undermines democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and revised policy decisions can fix it.
Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that is not to say it will never happen.
Initiatives that bolster independent news organizations, aid local journalism, subsidize public media, and outlaw the concentration of media power in a handful of hands are within reach – they are vital for a robust democracy.
In the world of media ownership, size does not equal quality. And news organizations like CNN must not be pieces in the most recent acquisition battle.
