On Thursday evening, while unconfirmed reports spread regarding an incident at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
While CNN is certainly not a flawless news source, her statement rang true for numerous observers. It stands as one of the broadcasters where there exists reality-based and largely reliable reporting – notably during crises like the one taking place near a New Hampshire storage facility.
An Uncertain State Amid a Business Tug-of-War
However CNN, now middle-aged, finds itself in a precarious situation as two massive media corporations compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a high-stakes game of corporate ownership, instead of as a question of what helps the news-consuming public.
“This represents another instance of the fundamental flaws with roots in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.
“The narrative is crafted as a business story with key players as the central actors, but there is hardly any discussion of the public interest,” Pickard added.
A Further Element: Political Influence
This situation is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his primary “fake news” adversary.
Think back to the cries 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 press briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is one reason why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to like that company more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of Continued Uncertainty
Significantly, if Netflix is successful, CNN and other cable outlets would first be separated into a independent unit. This might be a relief to many at the network, but it’s far from a safe harbor. That arrangement could set up CNN for a future sale. There is no finish line.
In the view of Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be contested by anti-trust authorities,” Wu argued.
The Core Problem and a Way Ahead
Regardless of the resolution with this particular battle, the bigger problem remains.
“What we have now is a very system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can tackle it.
Can reform occur in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Reform is a distant prospect now, but that doesn’t mean it will never happen.
Policies that strengthen independent news organizations, bolster local journalism, finance public media, and prevent the concentration of media power in too few hands are within reach – they are essential for a functioning democracy.
When it comes to media ownership, bigger isn’t better. And news organizations including CNN must not be tools in the newest acquisition battle.
