Late Thursday, while unconfirmed reports spread concerning the Brown University gunman, CNN’s Kaitlan Collins took to social media, noting the confusion and directing people to her channel's 9pm newscast.
Although CNN is certainly not a impeccable news source, her message resonated for numerous observers. It stands as one of the outlets where there exists fact-based and mostly trustworthy reporting – notably during crises such as the one unfolding close to a New Hampshire storage facility.
A Precarious Situation Amid a Corporate Tug-of-War
But CNN, now middle-aged, finds itself in a uncertain position as two huge media empires battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has become part of a high-stakes game of mergers and acquisitions, instead of as a question of what serves the information-seeking public.
“This is yet another example of the fundamental flaws with origins in decades of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks 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 Element: Donald Trump
This situation is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” foe.
Think back to the cries of “CNN sucks!” at his rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will protect him from journalistic oversight. That is part of why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor that bidder 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, parent of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
An Outcome of Further Instability
Notably, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. Such a move could be a welcome development to many at the network, but it’s far from a guarantee of stability. That structure could position CNN for a future sale. It never ends.
According to Timothy Wu, a lot of this is illegal, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be contested by the government,” Wu recently wrote.
The Fundamental Problem and a Path Forward
Regardless of the resolution regarding CNN, the bigger problem persists.
“Our current system is a highly system hostile to democracy, but we must resist the belief that change is impossible,” Pickard said. Government actions – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can address it.
Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Change is a distant prospect now, but that is not to say it will never happen.
Measures that strengthen independent news organizations, aid local journalism, subsidize public media, and outlaw the concentration of media power in too 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 shouldn’t be pieces in the latest corporate chess match.
