This past Thursday night, amid swirling speculation regarding the Brown University gunman, CNN’s Kaitlan Collins took to social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Even though the network is hardly a perfect news source, her message resonated for a lot of people. It stands as one of the outlets where there exists grounded and generally trustworthy reporting – particularly during fast-moving events such as the one developing close to a New Hampshire storage facility.
A Vulnerable Situation During a Business Struggle
But the news network, now four and a half decades old, finds itself in a uncertain position as two huge media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a high-risk game of corporate ownership, rather than as a question of what benefits the news-consuming public.
“Here is one more case of the fundamental flaws with origins in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a business story with powerful individuals as the protagonists, but there is very little discussion of the public interest,” Pickard explained.
A Further Element: Political Influence
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Remember the chants of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that CNN needs 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 seems to support Paramount Skydance, which has made a hostile bid.
There is a basis to favor that company more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Future of More Instability
It is important to note, if Netflix is successful, CNN and other cable outlets would first be separated into a separate entity. Such a move could be a welcome development to many at the network, but it’s hardly a secure position. That setup could set up CNN for yet another acquisition. It never ends.
In the view of Timothy Wu, a lot of this is illegal, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Bigger Issue and a Path Forward
Regardless of the resolution with this particular battle, the larger issue persists.
“The present media landscape is a very structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Policy decisions – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised policy decisions can tackle it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will be impossible forever.
Initiatives that bolster independent news organizations, aid local journalism, fund public media, and prevent the concentration of media power in too few hands are within reach – they are vital for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN cannot be pieces in the most recent corporate chess match.
