Late Thursday, 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.
Although CNN is certainly not a impeccable news source, her message resonated for numerous observers. It stands as one of the outlets where there exists reality-based and largely trustworthy reporting – particularly during crises like the one unfolding in the vicinity of a New Hampshire storage facility.
An Uncertain Situation Amid a Business Battle
However CNN, now middle-aged, finds itself in a precarious position as two giant media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has turned into a major game of corporate ownership, rather than as a question of what benefits the news-consuming public.
“Here is one more case of the fundamental flaws with roots in many years of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“The narrative is crafted as a business story with powerful individuals as the protagonists, but there is hardly any discussion of the societal benefit,” Pickard added.
A Further Element: Political Influence
The network's predicament is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” foe.
Recall the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is a factor in why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.
He has grounds to prefer 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 placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Possibility of Further Instability
Significantly, if Netflix is successful, CNN and other cable outlets would first be separated into a standalone company. Such a move could be a relief to many at the network, but it’s far from a guarantee of stability. That setup could set up CNN for another sale. There is no finish line.
According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be contested by regulators,” Wu recently wrote.
The Bigger Problem and a Potential Solution
Whatever happens regarding CNN, the bigger problem endures.
“The present media landscape is a highly structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to foster this overly commercial monster, and revised policy decisions can address it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is very unlikely now, but that should not imply it will not happen in the future.
Policies that support independent news organizations, aid local journalism, subsidize public media, and prevent the consolidation of media power in a handful of hands are achievable – they are necessary for a functioning democracy.
In the world of media ownership, bigger isn’t better. And news organizations such as CNN cannot be pawns in the latest acquisition battle.
