This past Thursday night, while unconfirmed reports spread concerning 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.
Even though the network is hardly a impeccable news source, her statement resonated for a lot of people. It is one of the organizations where there exists grounded and generally dependable reporting – notably during fast-moving events such as the one developing close to a New Hampshire storage facility.
A Precarious Situation During a Corporate Tug-of-War
However CNN, now middle-aged, finds itself in a vulnerable position as two massive media empires compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has turned into a major game of business acquisition, not as a question of what benefits the information-seeking public.
“This is yet another example of the profound systemic issues with roots in decades of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a corporate drama with influential figures as the main characters, but there is hardly any discussion of the common good,” Pickard said.
The Additional Layer: The Former President
The network's predicament is complicated by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” adversary.
Remember the cries of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is part of why he appears to favor Paramount Skydance, which has made a unsolicited offer.
He has grounds to like that bidder more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
An Outcome of More Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. This might be a welcome development to many at the network, but it’s not exactly a secure position. That setup could position CNN for another sale. The cycle continues.
According to Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Each proposed deal would be harmful to the country, and both should be challenged by regulators,” Wu stated.
The Core Issue and a Potential Solution
Regardless of the resolution in this situation, the larger issue persists.
“Our current system is a very structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can fix it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Change is highly improbable now, but that doesn’t mean it will be impossible forever.
Initiatives that strengthen independent news organizations, reinforce local journalism, finance public media, and prevent the concentration of media power in a handful of hands are not only possible – they are essential for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN shouldn’t be tools in the latest corporate chess match.
