This past Thursday night, amid swirling speculation about an incident at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
Even though it is by no means a impeccable news source, her message seemed accurate for a lot of people. It stands as one of the outlets where one can locate reality-based and generally reliable reporting – notably during fast-moving events like the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain Situation Amid a Business Tug-of-War
Yet CNN, now four and a half decades old, finds itself in a precarious state as two massive media empires compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has been drawn into a major game of corporate ownership, instead of as a question of what serves the information-seeking public.
“This is yet another example of the fundamental flaws with roots in many years of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The conjecture about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“The narrative is crafted as a financial tale with key players as the main characters, but there is scant discussion of the societal benefit,” Pickard explained.
The Complicating Layer: Donald Trump
The network's predicament is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” adversary.
Recall the shouts of “CNN sucks!” at the president’s rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is part of why he seems to favor Paramount Skydance, which has made a hostile bid.
There is a basis to like that bidder more. For one thing, it is controlled 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 conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of More Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. Such a move could be a relief to many at the network, but it’s hardly a secure position. That setup could position CNN for yet another acquisition. It never ends.
According to Timothy Wu, a great deal 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 challenged by regulators,” Wu stated.
The Core Challenge and a Path Forward
Regardless of the resolution with this particular battle, the larger issue remains.
“What we have now is a highly structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can address it.
Can reform occur in an era where the head of the FCC will not confirm that the agency is independent? Reform is a distant prospect now, but that doesn’t mean it will not happen in the future.
Measures that support independent news organizations, aid local journalism, subsidize public media, and outlaw the accumulation of media power in too few hands are achievable – they are necessary for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations such as CNN cannot be tools in the latest acquisition battle.
