Late Thursday, as rumors swirled concerning an incident at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Although the network is hardly a perfect news source, her statement rang true to many. It is one of the broadcasters where you can find grounded and mostly reliable reporting – particularly during breaking news situations like the one developing in the vicinity of a New Hampshire storage facility.
A Precarious State During a Business Battle
However the news network, now middle-aged, finds itself in a vulnerable state as two giant media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has been drawn into a high-risk game of business acquisition, instead of as a question of what benefits the information-seeking public.
“This is yet another example of the profound systemic issues with origins in decades of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
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 powerful individuals as the main characters, but there is hardly any discussion of the common good,” Pickard explained.
A Further Layer: Political Influence
This situation is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” adversary.
Remember the chants of “CNN sucks!” at Trump's rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is part of why he seems to come down on the side of Paramount Skydance, which has made a unsolicited offer.
He has grounds to prefer that bidder more. For one thing, it is led 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 installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Future of Further 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 relief to many at the network, but it’s not exactly a guarantee of stability. That structure could position CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, a great deal of this is illegal, anyway. The prominent critic of big tech’s dominance stated that competition laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Bigger Problem and a Path Forward
Whatever happens regarding CNN, the underlying crisis persists.
“What we have now is a profoundly anti-democratic system, but we ought not succumb to a sense of powerlessness,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to foster this overly commercial monster, and revised policy decisions can address it.
Can reform occur in an era where the head of the FCC won’t even affirm that the agency is independent? Reform is very unlikely now, but that should not imply it will not happen in the future.
Initiatives that bolster independent news organizations, aid local journalism, subsidize public media, and outlaw the accumulation of media power in very few hands are within reach – they are vital for a functioning democracy.
When it comes to media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be tools in the latest corporate chess match.
