On Thursday evening, as rumors swirled regarding an incident at Brown University, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
Even though CNN is certainly not a flawless news source, her words seemed accurate to many. It remains one of the outlets where one can locate fact-based and generally reliable reporting – particularly during breaking news situations like the one taking place in the vicinity of a New Hampshire storage facility.
A Vulnerable Position During a Business Struggle
But the news network, now four and a half decades old, finds itself in a vulnerable position as two massive media corporations compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has become part of a high-risk game of business acquisition, instead of as a question of what helps the news-consuming public.
“This represents another instance of the fundamental flaws with roots in decades of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The conjecture about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a financial tale with powerful individuals as the central actors, but there is hardly any discussion of the public interest,” Pickard added.
The Complicating Factor: Political Influence
This situation is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Remember the shouts of “CNN sucks!” at his rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now asserts that the network requires new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is part of why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor that bidder more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of Further Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. This might be a relief to many at the network, but it’s hardly a secure position. That arrangement could position CNN for another sale. There is no finish line.
If you ask Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance wrote recently that competition laws should block both deals.
“Each proposed deal would be harmful to the country, and both should be opposed by regulators,” Wu recently wrote.
The Fundamental Issue and a Way Ahead
No matter the outcome in this situation, the underlying crisis remains.
“Our current system is a very structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can fix it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will never happen.
Policies that strengthen independent news organizations, reinforce local journalism, subsidize public media, and outlaw the consolidation of media power in a handful of hands are achievable – they are necessary for a healthy democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN shouldn’t be pawns in the most recent acquisition battle.
