Late Thursday, amid swirling speculation about an incident 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.
Even though the network is hardly a flawless news source, her statement seemed accurate for a lot of people. It remains one of the outlets where one can locate grounded and mostly dependable reporting – particularly during fast-moving events like the one unfolding in the vicinity of a New Hampshire storage facility.
An Uncertain Situation During a High-Stakes Tug-of-War
However CNN, now middle-aged, finds itself in a precarious position as two giant media empires compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has been drawn into a high-stakes game of business acquisition, rather than as a question of what benefits the information-seeking public.
“This is yet another example of the deep structural problems with origins in decades of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a financial tale with influential figures as the main characters, but there is scant discussion of the common good,” Pickard added.
A Further Factor: Donald Trump
The network's predicament is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” antagonist.
Remember the chants of “CNN sucks!” at his rallies, his team's disciplinary withdrawal 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. This can be interpreted as ownership that will insulate him from journalistic oversight. That is a factor in why he seems to favor Paramount Skydance, which has made a hostile bid.
He has grounds to like that company 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 right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that venerable news network.
An Outcome of Continued Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. This might be a welcome development to many at the network, but it’s hardly a safe harbor. That setup could position CNN for a future sale. The cycle continues.
According to Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that competition laws should disallow both deals.
“Either merger would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu argued.
The Core Challenge and a Way Ahead
Regardless of the resolution with this particular battle, the bigger problem remains.
“Our current system is a highly system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can fix it.
Can reform occur in an era where the head of the FCC refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that should not imply it will not happen in the future.
Initiatives that bolster independent news organizations, aid local journalism, finance public media, and prevent the consolidation of media power in a handful of 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 shouldn’t be tools in the newest acquisition battle.
