Late Thursday, while unconfirmed reports spread concerning a shooting at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and guiding the public to her channel's 9pm newscast.
Although it is by no means a impeccable news source, her statement rang true for a lot of people. It is one of the organizations where one can locate reality-based and largely reliable reporting – particularly during breaking news situations such as the one unfolding close to a New Hampshire storage facility.
An Uncertain Situation During a Corporate Tug-of-War
But CNN, now middle-aged, finds itself in a vulnerable situation as two giant media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has turned into a high-risk game of business acquisition, rather than as a question of what benefits the news-consuming public.
“This represents another instance of the deep structural problems with origins in many years of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.
“It gets presented as a financial tale with key players as the central actors, but there is hardly any discussion of the common good,” Pickard said.
The Complicating Factor: The Former President
This situation is made more complex by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” antagonist.
Recall the cries of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now asserts that the network requires new ownership. This can be interpreted as ownership that will protect him from journalistic oversight. That is one reason why he appears to support Paramount Skydance, which has made a unsolicited offer.
He has grounds to favor that bidder more. For one thing, it is led 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 right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of Continued Turmoil
It is important to note, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That structure could position CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, a lot 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.
“Either merger would be harmful to the country, and both should be challenged by regulators,” Wu argued.
The Core Challenge and a Path Forward
Whatever happens regarding CNN, the larger issue endures.
“The present media landscape is a highly system hostile to 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 profit-obsessed monster, and different policy decisions can address it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that is not to say it will not happen in the future.
Initiatives that strengthen independent news organizations, aid local journalism, finance public media, and outlaw the accumulation of media power in a handful of hands are not only possible – they are necessary for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations like CNN must not be pieces in the newest corporate chess match.
