Late Thursday, amid swirling speculation regarding an incident at Brown University, CNN’s Kaitlan Collins took to social media, noting the confusion and directing people to her network’s 9pm newscast.
Although it is by no means a perfect news source, her statement seemed accurate for numerous observers. It remains one of the broadcasters where one can locate grounded and mostly trustworthy reporting – notably during breaking news situations like the one developing close to a New Hampshire storage facility.
A Precarious State During a Business Battle
Yet the news network, now 45 years old, finds itself in a uncertain state as two massive media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has become part of a high-risk game of corporate ownership, instead of as a question of what benefits the news-consuming public.
“This is yet another example of the deep structural problems with roots in many years of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The conjecture about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a more important point.
“It is often framed as a corporate drama with influential figures as the protagonists, but there is scant discussion of the public interest,” Pickard said.
The Complicating Layer: Political Influence
The network's predicament is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” adversary.
Remember the cries of “CNN sucks!” at the president’s rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. That is part of why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like that suitor more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Future of Further Instability
Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a welcome development to many at the network, but it’s far from a secure position. That structure could pave the way for CNN for a future sale. It never ends.
According to Timothy Wu, a lot of this is against the law, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by anti-trust authorities,” Wu stated.
The Bigger Challenge and a Way Ahead
Whatever happens in this situation, the bigger problem endures.
“Our current system is a highly system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can tackle it.
Will that happen in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will not happen in the future.
Initiatives that strengthen independent news organizations, aid local journalism, subsidize public media, and prohibit the consolidation of media power in a handful of hands are not only possible – they are vital for a functioning democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN cannot be pawns in the most recent corporate chess match.
