On Thursday evening, amid swirling speculation regarding an incident at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
While CNN is certainly not a impeccable news source, her statement seemed accurate for numerous observers. It remains one of the outlets where there exists grounded and mostly reliable reporting – particularly during crises such as the one unfolding close to a New Hampshire storage facility.
A Vulnerable Position During a Business Tug-of-War
Yet the news network, now four and a half decades old, finds itself in a vulnerable position as two giant media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a high-risk game of corporate ownership, rather than as a question of what helps the information-seeking public.
“This represents another instance of the profound systemic issues with origins in many years of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a business story with key players as the protagonists, but there is very little discussion of the societal benefit,” Pickard explained.
A Further Layer: The Former President
This situation is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Think back to the chants of “CNN sucks!” at the president’s rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. That is one reason why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer 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.
Paramount, owner of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of Further Instability
Significantly, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. This might be a relief to many at the network, but it’s far from a secure position. That setup could pave the way for CNN for a future sale. The cycle continues.
In the view of Timothy Wu, a great deal of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by anti-trust authorities,” Wu recently wrote.
The Bigger Problem and a Path Forward
No matter the outcome in this situation, the bigger problem persists.
“Our current system is a profoundly system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard noted. Policy decisions – originating in the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can tackle it.
Is this likely in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will never happen.
Measures that support independent news organizations, bolster local journalism, subsidize public media, and prohibit the consolidation of media power in a handful of hands are not only possible – they are vital for a functioning democracy.
Regarding media ownership, bigger isn’t better. And news organizations such as CNN cannot be pieces in the most recent corporate chess match.
