On Thursday evening, amid swirling speculation about a shooting at Brown University, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
Although it is by no means a impeccable news source, her message resonated for numerous observers. It is one of the organizations where you can find reality-based and largely trustworthy reporting – notably during breaking news situations like the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious Situation Amid a Business Tug-of-War
Yet the news network, now middle-aged, finds itself in a vulnerable situation as two giant media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a high-stakes game of corporate ownership, instead of as a question of what serves the news-consuming public.
“This represents another instance of the deep structural problems with origins in many years of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.
“It gets presented as a business story with influential figures as the protagonists, but there is very little discussion of the public interest,” Pickard added.
The Additional Factor: Political Influence
The CNN scenario is made more complex by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” foe.
Remember the shouts of “CNN sucks!” at his rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is part of why he appears to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to favor that suitor 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 appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Possibility of Continued Turmoil
Notably, if Netflix is successful, 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 hardly a guarantee of stability. That setup could position CNN for a future sale. It never ends.
According to Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should block both deals.
“Either merger would be bad for the country, and both should be challenged by regulators,” Wu argued.
The Bigger Problem and a Path Forward
Whatever happens with this particular battle, the underlying crisis endures.
“The present media landscape is a very system hostile to democracy, but we must resist a sense of powerlessness,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can tackle it.
Can reform occur in an era where the head of the FCC refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will not happen in the future.
Initiatives that strengthen independent news organizations, reinforce local journalism, fund public media, and prevent the consolidation of media power in very few hands are within reach – they are vital for a functioning democracy.
When it comes to media ownership, bigger isn’t better. And news organizations such as CNN cannot be tools in the latest corporate chess match.
