On Thursday evening, as rumors swirled about the Brown University gunman, CNN’s Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
Although CNN is certainly not a perfect news source, her words resonated to many. It stands as one of the outlets where there exists fact-based and generally reliable reporting – particularly during crises like the one unfolding near a New Hampshire storage facility.
A Vulnerable Position During a High-Stakes Battle
But the news network, now four and a half decades old, finds itself in a vulnerable situation as two giant media empires vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has been drawn into a major game of corporate ownership, not as a question of what benefits the news-consuming public.
“This is yet another example of the deep structural problems with origins in many years of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a corporate drama with influential figures as the main characters, but there is scant discussion of the societal benefit,” Pickard added.
A Further Factor: Donald Trump
The network's predicament is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Recall the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that CNN needs new ownership. You can read that as ownership that will insulate him from journalistic oversight. That is one reason why he appears to support Paramount Skydance, which has made a hostile bid.
There is a basis to like that bidder more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of More Uncertainty
It is important to note, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a relief to many at the network, but it’s far from a safe harbor. That arrangement could set up CNN for yet another acquisition. It never ends.
If you ask Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by anti-trust authorities,” Wu argued.
The Fundamental Issue and a Way Ahead
No matter the outcome regarding CNN, the larger issue remains.
“The present media landscape is a very anti-democratic system, but we ought not succumb to learned helplessness,” Pickard said. Government actions – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and new policy decisions can fix it.
Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Reform is very unlikely now, but that should not imply it will not happen in the future.
Initiatives that bolster independent news organizations, reinforce local journalism, fund public media, and prevent the accumulation of media power in a handful of hands are within reach – they are vital for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN shouldn’t be pawns in the latest acquisition battle.
