This past Thursday night, as rumors swirled about an incident at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Even though CNN is certainly not a impeccable news source, her statement rang true for numerous observers. It is one of the outlets where you can find reality-based and generally dependable reporting – particularly during crises like the one unfolding close to a New Hampshire storage facility.
A Precarious Position During a Business Tug-of-War
However the news network, now 45 years old, finds itself in a vulnerable state as two massive media corporations battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a high-stakes game of business acquisition, instead of as a question of what helps the news-consuming public.
“Here is one more case of the fundamental flaws with origins in decades of governmental choices,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.
“It is often framed as a financial tale with powerful individuals as the protagonists, but there is very little discussion of the societal benefit,” Pickard added.
A Further Element: The Former President
The network's predicament is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Think back to the cries of “CNN sucks!” at the president’s rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is a factor in why he seems to favor Paramount Skydance, which has made a hostile bid.
There is a basis to prefer that company 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, famous for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Future of More Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be separated into a independent unit. That would be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That structure could pave the way for CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, a great deal of this is against the law, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should block both deals.
“Either merger would be bad for the country, and both should be challenged by regulators,” Wu recently wrote.
The Bigger Problem and a Path Forward
No matter the outcome in this situation, the bigger problem endures.
“Our current system is a highly structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard said. Policy decisions – from the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can address it.
Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Change is highly improbable now, but that doesn’t mean it will not happen in the future.
Measures that support independent news organizations, reinforce local journalism, finance public media, and outlaw the concentration of media power in a handful of hands are not only possible – they are vital for a robust democracy.
In the world of media ownership, size does not equal quality. And news organizations such as CNN must not be pawns in the newest acquisition battle.
