On Thursday evening, while unconfirmed reports spread regarding a shooting at Brown University, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
While it is by no means a perfect news source, her statement resonated to many. It is one of the outlets where you can find reality-based and largely dependable reporting – particularly during breaking news situations such as the one taking place near a New Hampshire storage facility.
A Precarious Position Amid a High-Stakes Battle
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.
No matter the result, the future of CNN has been drawn into a major game of business acquisition, rather than as a question of what benefits the information-seeking public.
“This represents another instance of the profound systemic issues with roots in many years of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The debate about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It gets presented as a financial tale with influential figures as the main characters, but there is hardly any discussion of the societal benefit,” Pickard said.
The Additional Factor: Political Influence
The CNN scenario is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” foe.
Recall the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive 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 criticism and scrutiny. That is a factor in why he appears to support Paramount Skydance, which has made a hostile bid.
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 lead editor of that historic news network.
A Future of Further Instability
Notably, if Netflix wins, 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 guarantee of stability. That setup could position CNN for yet another acquisition. It never ends.
According to Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu argued.
The Core Issue and a Potential Solution
Whatever happens regarding CNN, the underlying crisis remains.
“Our current system is a highly system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can address it.
Can reform occur in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is very unlikely now, but that is not to say it will be impossible forever.
Policies that bolster independent news organizations, aid local journalism, fund public media, and outlaw the accumulation of media power in very few hands are not only possible – they are necessary for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN must not be tools in the latest corporate chess match.
