This past Thursday night, amid swirling speculation regarding an incident at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and guiding the public to her channel's 9pm newscast.
While it is by no means a flawless news source, her statement rang true for a lot of people. It remains one of the broadcasters where there exists grounded and generally trustworthy reporting – particularly during fast-moving events such as the one developing near a New Hampshire storage facility.
A Precarious Position Amid a Business Tug-of-War
Yet CNN, now four and a half decades old, finds itself in a uncertain position as two giant media corporations vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has been drawn into a high-stakes game of business acquisition, instead of as a question of what serves the information-seeking public.
“Here is one more case of the fundamental flaws with roots in many years of regulatory actions,” stated 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 – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a financial tale with influential figures as the protagonists, but there is very little discussion of the public interest,” Pickard explained.
The Additional Element: 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 main “fake news” foe.
Think back to the shouts of “CNN sucks!” at his rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is one reason why he appears to favor Paramount Skydance, which has made a unsolicited offer.
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.
Paramount, parent of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of More Uncertainty
Significantly, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. That would be a relief to many at the network, but it’s far from a guarantee of stability. That arrangement could pave the way for CNN for a future sale. There is no finish line.
According to Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by the government,” Wu stated.
The Bigger Issue and a Way Ahead
Whatever happens with this particular battle, the larger issue remains.
“The present media landscape is a very anti-democratic system, but we ought not succumb to a sense of powerlessness,” Pickard noted. Policy decisions – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can address it.
Is this likely in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will be impossible forever.
Initiatives that support independent news organizations, bolster local journalism, finance public media, and prevent the accumulation of media power in very few hands are not only possible – they are essential for a functioning democracy.
Regarding media ownership, bigger isn’t better. And news organizations such as CNN cannot be tools in the latest merger game.
