On Thursday evening, amid swirling speculation about an incident at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
While CNN is certainly not a impeccable news source, her words seemed accurate to many. It stands as one of the broadcasters where you can find reality-based and generally trustworthy reporting – particularly during fast-moving events such as the one unfolding near a New Hampshire storage facility.
An Uncertain State Amid a Business Struggle
However the news network, now four and a half decades old, finds itself in a uncertain situation as two massive media empires compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has become part of a high-stakes game of corporate ownership, instead of as a question of what benefits the news-consuming public.
“Here is one more case of the profound systemic issues with roots in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a business story with powerful individuals as the central actors, but there is scant discussion of the societal benefit,” Pickard explained.
The Complicating Layer: Political Influence
The CNN scenario is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” foe.
Remember the chants of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will protect him from journalistic oversight. That is a factor in why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to like that suitor 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, owner of CBS News, also recently installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
An Outcome of Continued Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a separate entity. Such a move could be a relief to many at the network, but it’s hardly a guarantee of stability. That arrangement could pave the way for CNN for another sale. There is no finish line.
In the view of Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Each proposed deal would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Core Issue and a Path Forward
No matter the outcome in this situation, the underlying crisis endures.
“The present media landscape is a very system hostile to democracy, but we must resist the belief that change is impossible,” Pickard said. Policy decisions – from the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can tackle it.
Can reform occur in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will never happen.
Policies that bolster independent news organizations, aid local journalism, finance public media, and prevent 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 must not be pieces in the most recent acquisition battle.
