This past Thursday night, amid swirling speculation concerning a shooting at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Even though CNN is certainly not a flawless news source, her message seemed accurate for a lot of people. It stands as one of the outlets where you can find fact-based and largely dependable reporting – particularly during breaking news situations like the one developing close to a New Hampshire storage facility.
A Precarious Situation During a High-Stakes Struggle
But the news network, now four and a half decades old, finds itself in a vulnerable situation as two giant media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a major game of business acquisition, instead of as a question of what serves the news-consuming public.
“This is yet another example of the profound systemic issues with origins in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a more important point.
“It gets presented as a corporate drama with influential figures as the main characters, but there is very little discussion of the common good,” Pickard explained.
The Complicating Element: Donald Trump
The CNN scenario is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” adversary.
Think back to the cries of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now says that CNN needs new ownership. You can read that as ownership that will shield him from criticism and scrutiny. That is one reason why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer that bidder 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 placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
An Outcome of More Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. This might be a relief to many at the network, but it’s far from a guarantee of stability. That arrangement could set up CNN for a future sale. It never ends.
According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by regulators,” Wu stated.
The Fundamental Issue and a Way Ahead
No matter the outcome with this particular battle, the underlying crisis endures.
“What we have now is a very structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can tackle 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 is not to say it will be impossible forever.
Initiatives that bolster independent news organizations, bolster local journalism, fund public media, and prohibit the concentration of media power in a handful of hands are achievable – they are vital for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN must not be pieces in the newest corporate chess match.
