This past Thursday night, while unconfirmed reports spread 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 the network is hardly a impeccable news source, her words resonated for a lot of people. It remains one of the organizations where one can locate fact-based and largely dependable reporting – particularly during fast-moving events such as the one unfolding close to a New Hampshire storage facility.
An Uncertain Situation Amid a Business Battle
However CNN, 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 fate of CNN has turned into a high-risk game of business acquisition, instead of as a question of what helps the information-seeking public.
“This represents another instance of the deep structural problems with origins in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The conjecture about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a business story with key players as the central actors, but there is scant discussion of the common good,” Pickard said.
The Complicating Element: The Former President
This situation is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” adversary.
Think back to the chants of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is a factor in why he appears to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to like that suitor more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.
An Outcome of More Uncertainty
It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a separate entity. Such a move could be a relief to many at the network, but it’s not exactly a secure position. That structure could position CNN for yet another acquisition. The cycle continues.
If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should block both deals.
“Either merger would be bad for the country, and both should be challenged by regulators,” Wu recently wrote.
The Core Problem and a Potential Solution
Whatever happens regarding CNN, the bigger problem remains.
“The present media landscape is a very anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised policy decisions can address it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will not happen in the future.
Policies that strengthen independent news organizations, aid local journalism, subsidize public media, and prevent the consolidation of media power in very few hands are within reach – they are vital for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations like CNN shouldn’t be pieces in the newest corporate chess match.
