On Thursday evening, while unconfirmed reports spread about a shooting at Brown University, CNN’s Kaitlan Collins took to social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
While CNN is certainly not a perfect news source, her words resonated for numerous observers. It remains one of the organizations where you can find reality-based and largely dependable reporting – especially during fast-moving events like the one unfolding near a New Hampshire storage facility.
An Uncertain Situation Amid a High-Stakes Battle
However the news network, now middle-aged, finds itself in a vulnerable position as two massive media corporations vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has been drawn into a high-risk 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 decades of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy 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 larger point.
“It gets presented as a financial tale with powerful individuals as the main characters, but there is scant discussion of the societal benefit,” Pickard said.
A Further Layer: Political Influence
The network's predicament is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” foe.
Remember the cries of “CNN sucks!” at the president’s rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now claims that CNN needs new ownership. You can read that as ownership that will shield him from criticism and scrutiny. That is part of why he seems to favor Paramount Skydance, which has made a hostile bid.
There is a basis to favor that suitor more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that storied news network.
A Future of Continued Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a standalone company. That would be a welcome development to many at the network, but it’s far from a guarantee of stability. That structure could set up CNN for a future sale. The cycle continues.
In the view of Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Either merger would be bad for the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Core Challenge and a Path Forward
Whatever happens with this particular battle, the larger issue persists.
“Our current system is a highly structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard said. Government actions – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and revised policy decisions can tackle it.
Will that happen in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Reform 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 outlaw the consolidation of media power in very few hands are achievable – they are necessary for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations such as CNN must not be pawns in the newest acquisition battle.
