On Thursday evening, as rumors swirled about a shooting at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
While the network is hardly a perfect news source, her statement seemed accurate for numerous observers. It stands as one of the organizations where you can find reality-based and largely reliable reporting – particularly during breaking news situations such as the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain Position Amid a High-Stakes Tug-of-War
Yet CNN, now 45 years old, finds itself in a precarious position as two massive media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has become part of a major game of business acquisition, not as a question of what helps the news-consuming public.
“This is yet another example of the deep structural problems with origins in decades of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a business story with powerful individuals as the central actors, but there is very little discussion of the public interest,” Pickard explained.
The Additional Element: Donald Trump
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his chief “fake news” adversary.
Think back to the chants of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will shield him from negative coverage and examination. That is part of why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to favor that suitor more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Future of Continued Uncertainty
Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. That would be a relief to many at the network, but it’s hardly a safe harbor. That setup could set up CNN for another sale. The cycle continues.
If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by the government,” Wu stated.
The Fundamental Challenge and a Path Forward
No matter the outcome with this particular battle, the bigger problem endures.
“Our current system is a very structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to create this overly commercial monster, and new 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 should not imply it will be impossible forever.
Measures that bolster independent news organizations, reinforce local journalism, subsidize public media, and outlaw the consolidation of media power in very few hands are not only possible – they are necessary for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN must not be tools in the newest corporate chess match.
