This past Thursday night, as rumors swirled concerning a shooting at Brown University, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
Even though it is by no means a flawless news source, her message rang true for a lot of people. It is one of the organizations where there exists grounded and generally trustworthy reporting – notably during fast-moving events like the one taking place close to a New Hampshire storage facility.
A Precarious Position Amid a Business Struggle
Yet the news network, now four and a half decades old, finds itself in a vulnerable position as two huge media empires battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has turned into a major game of corporate ownership, rather than as a question of what serves the information-seeking public.
“This represents another instance of the deep structural problems with origins in decades of policy decisions,” 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 – will it be Netflix or Paramount Skydance? – misses a larger point.
“It is often framed as a corporate drama with powerful individuals as the main characters, but there is scant discussion of the societal benefit,” Pickard said.
The Additional Layer: The Former President
The network's predicament is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his primary “fake news” foe.
Remember the cries of “CNN sucks!” at his rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is one reason why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to prefer 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, owner of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Future of Continued Instability
Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a separate entity. That would be a relief to many at the network, but it’s hardly a secure position. That arrangement could pave the way for CNN for another sale. The cycle continues.
If you ask Timothy Wu, a lot of this is illegal, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should disallow both deals.
“Each proposed deal would be detrimental to the country, and both should be contested by the government,” Wu recently wrote.
The Core Challenge and a Path Forward
No matter the outcome with this particular battle, the bigger problem persists.
“Our current system is a highly anti-democratic system, but we ought not succumb to learned helplessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can tackle it.
Will that happen in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is highly improbable now, but that is not to say it will not happen in the future.
Initiatives that strengthen independent news organizations, bolster local journalism, fund public media, and prevent the accumulation of media power in a handful of hands are not only possible – they are essential for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations like CNN cannot be pawns in the newest acquisition battle.
