This past Thursday night, amid swirling speculation regarding a shooting at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Even though the network is hardly a flawless news source, her words resonated for a lot of people. It stands as one of the outlets where one can locate reality-based and largely trustworthy reporting – especially during crises such as the one taking place close to a New Hampshire storage facility.
An Uncertain Position Amid a High-Stakes Battle
However CNN, now middle-aged, finds itself in a uncertain position as two massive media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a high-stakes game of business acquisition, not as a question of what serves the information-seeking public.
“This is yet another example of the fundamental flaws with roots in decades 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 which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a financial tale with powerful individuals as the central actors, but there is hardly any discussion of the societal benefit,” Pickard added.
A Further Factor: The Former President
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his primary “fake news” foe.
Think back to the chants of “CNN sucks!” at his rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now claims that the network requires new ownership. You can read that as ownership that will shield him from criticism and scrutiny. That is one reason why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer that suitor more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Future of Further Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be carved out into a independent unit. This might be a relief to many at the network, but it’s far from a secure position. That arrangement could position CNN for a future sale. There is no finish line.
In the view of Timothy Wu, a lot of this is illegal, anyway. The influential voice of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Each proposed deal would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu argued.
The Fundamental Challenge and a Potential Solution
Regardless of the resolution with this particular battle, the underlying crisis remains.
“Our current system is a profoundly system hostile to democracy, but we must resist a sense of powerlessness,” Pickard noted. Government actions – originating in the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can address it.
Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will be impossible forever.
Measures that bolster independent news organizations, aid local journalism, subsidize public media, and prohibit the accumulation of media power in too few hands are not only possible – they are necessary for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN must not be pawns in the latest corporate chess match.
