This past Thursday night, amid swirling speculation regarding an incident at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Even though it is by no means a flawless news source, her statement rang true to many. It remains one of the broadcasters where one can locate fact-based and generally trustworthy reporting – especially during fast-moving events like the one developing near a New Hampshire storage facility.
An Uncertain Position Amid a Business Tug-of-War
But the news network, now middle-aged, finds itself in a uncertain position as two massive media empires compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has been drawn into a major 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 decades of regulatory actions,” stated 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? – misses a more important point.
“It is often framed as a corporate drama with powerful individuals as the central actors, but there is very little discussion of the common good,” Pickard added.
A Further Factor: The Former President
The network's predicament is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” foe.
Think back to the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now claims that the network requires new ownership. You can read that as ownership that will shield him from negative coverage and examination. That is one reason why he appears to support Paramount Skydance, which has made a hostile bid.
He has grounds to prefer that bidder more. For one thing, it is controlled 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 placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of Further Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a welcome development to many at the network, but it’s far from a safe harbor. That setup could position CNN for another sale. The cycle continues.
According to Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Either merger would be bad for the country, and both should be challenged by the government,” Wu stated.
The Fundamental Challenge and a Path Forward
Whatever happens regarding CNN, the bigger problem persists.
“The present media landscape is a very system hostile to democracy, but we must resist the belief that change is impossible,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can fix it.
Will that happen in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will not happen in the future.
Initiatives that support independent news organizations, aid local journalism, finance public media, and prohibit the accumulation of media power in a handful of hands are achievable – they are essential for a robust democracy.
Regarding media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be pawns in the most recent acquisition battle.
