Late Thursday, amid swirling speculation regarding a shooting at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
While the network is hardly a impeccable news source, her message seemed accurate for numerous observers. It stands as one of the outlets where there exists grounded and mostly reliable reporting – notably during breaking news situations such as the one taking place close to a New Hampshire storage facility.
A Vulnerable State Amid a High-Stakes Struggle
However CNN, now 45 years old, finds itself in a precarious state as two massive media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a high-risk game of corporate ownership, instead of as a question of what helps the news-consuming public.
“Here is one more case of the deep structural problems with roots in decades of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The debate about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a corporate drama with powerful individuals as the main characters, but there is scant discussion of the public interest,” Pickard added.
The Additional Factor: Donald Trump
The network's predicament is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his chief “fake news” foe.
Think back to the cries of “CNN sucks!” at his rallies, his administration's retaliatory revocation 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 shield him from journalistic oversight. That is part of why he seems to support Paramount Skydance, which has made a unsolicited offer.
There is a basis to prefer that company more. For one thing, it is led 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 appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Future of Further Instability
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. That would be a relief to many at the network, but it’s not exactly a guarantee of stability. That arrangement could set up CNN for yet another acquisition. It never ends.
According to Timothy Wu, a great deal of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu argued.
The Bigger Challenge and a Path Forward
Regardless of the resolution with this particular battle, the bigger problem persists.
“Our current system is a profoundly anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can address it.
Can reform occur in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will never happen.
Initiatives that strengthen independent news organizations, bolster local journalism, subsidize public media, and prohibit the consolidation of media power in very few hands are within reach – they are essential for a robust democracy.
When it comes to media ownership, bigger isn’t better. And news organizations including CNN cannot be pieces in the newest acquisition battle.
