On Thursday evening, while unconfirmed reports spread about 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 CNN is certainly not a perfect news source, her words resonated for numerous observers. It is one of the outlets where you can find grounded and largely trustworthy reporting – particularly during breaking news situations such as the one taking place close to a New Hampshire storage facility.
A Precarious Position Amid a High-Stakes Tug-of-War
However CNN, now 45 years old, finds itself in a precarious position as two massive media empires battle over ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has turned into a high-risk game of corporate ownership, not as a question of what helps the information-seeking public.
“Here is one more case of the deep structural problems with origins in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a business story with influential figures as the protagonists, but there is very little discussion of the public interest,” Pickard added.
The Additional Element: Political Influence
This situation is further muddied by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Think back to the chants of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes 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 a factor in why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to favor that bidder more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Future of More Turmoil
Significantly, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a relief to many at the network, but it’s hardly a secure position. That setup could pave the way for CNN for another sale. The cycle continues.
In the view of Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Either merger would be bad for the country, and both should be opposed by regulators,” Wu recently wrote.
The Core Issue and a Path Forward
Regardless of the resolution in this situation, the larger issue endures.
“Our current system is a profoundly structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard said. Policy decisions – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and revised policy decisions can address it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is very unlikely now, but that is not to say it will never happen.
Policies that support independent news organizations, reinforce local journalism, fund public media, and outlaw the consolidation of media power in very few hands are achievable – they are essential for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN shouldn’t be pieces in the latest merger game.
