On Thursday evening, while unconfirmed reports spread about a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and guiding the public to her channel's 9pm newscast.
Even though CNN is certainly not a flawless news source, her words rang true to many. It remains one of the broadcasters where you can find fact-based and generally trustworthy reporting – especially during crises such as the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious State During a Business Tug-of-War
But the news network, now middle-aged, finds itself in a uncertain position as two massive media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has been drawn into a major game of corporate ownership, instead of as a question of what benefits the information-seeking public.
“This is yet another example of the fundamental flaws with roots in decades of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It gets presented as a financial tale with key players as the central actors, but there is very little discussion of the public interest,” Pickard added.
The Complicating Layer: Donald Trump
This situation is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” foe.
Think back to the cries of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now asserts that the network requires new ownership. You can read that as ownership that will protect him from journalistic oversight. That is a factor in why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to prefer 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 installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of Further Turmoil
Notably, if Netflix wins, CNN and other cable outlets would first be carved out into a independent unit. That would be a relief to many at the network, but it’s hardly a secure position. That structure could set up CNN for another sale. There is no finish line.
In the view of Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by the government,” Wu recently wrote.
The Fundamental Problem and a Potential Solution
No matter the outcome with this particular battle, the larger issue persists.
“What we have now is a very structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to create this profit-obsessed monster, and different policy decisions can fix it.
Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that is not to say it will not happen in the future.
Policies that strengthen independent news organizations, reinforce local journalism, fund public media, and prevent the accumulation of media power in very few hands are achievable – they are vital for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations like CNN shouldn’t be pieces in the most recent acquisition battle.
