This past Thursday night, amid swirling speculation regarding an incident at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
Even though it is by no means a flawless news source, her statement resonated to many. It remains one of the broadcasters where you can find fact-based and largely reliable reporting – especially during crises like the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain Position Amid a Business Struggle
But CNN, now four and a half decades old, finds itself in a vulnerable state as two massive media empires battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has turned into a high-stakes game of business acquisition, rather than as a question of what benefits the news-consuming public.
“This is yet another example of the profound systemic issues with roots in decades of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a more important point.
“The narrative is crafted as a corporate drama with key players as the protagonists, but there is very little discussion of the public interest,” Pickard explained.
A Further Factor: Donald Trump
This situation is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” antagonist.
Recall the chants of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is one reason why he seems to support Paramount Skydance, which has made a hostile bid.
Trump has reason to like that bidder more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that storied news network.
An Outcome of More Turmoil
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. 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. There is no finish line.
If you ask Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that competition laws should disallow both deals.
“Each proposed deal would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Bigger Problem and a Potential Solution
Whatever happens in this situation, the underlying crisis endures.
“What we have now is a very structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can fix it.
Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that should not imply it will not happen in the future.
Initiatives that bolster independent news organizations, aid local journalism, finance public media, and prevent the accumulation of media power in very few hands are not only possible – they are essential for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations including CNN must not be pawns in the latest corporate chess match.
