This past Thursday night, while unconfirmed reports spread concerning a shooting at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Even though it is by no means a impeccable news source, her statement rang true for a lot of people. It stands as one of the outlets where you can find fact-based and mostly dependable reporting – particularly during fast-moving events like the one taking place close to a New Hampshire storage facility.
A Precarious State Amid a High-Stakes Battle
Yet CNN, now middle-aged, finds itself in a precarious state as two giant media corporations vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a major game of business acquisition, not as a question of what benefits the information-seeking public.
“Here is one more case of the deep structural problems with origins in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The conjecture about which company will control 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 key players as the central actors, but there is hardly any discussion of the societal benefit,” Pickard explained.
The Complicating Element: Donald Trump
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.
Recall the shouts of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is part of why he seems to support Paramount Skydance, which has made a hostile bid.
There is a basis to prefer that bidder more. For one thing, it is controlled by David Ellison, son of the ally of Trump 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 lead editor of that venerable news network.
A Possibility of Continued Instability
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off 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 pave the way for CNN for another sale. There is no finish line.
If you ask Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance stated that competition laws should prohibit both deals.
“Each proposed deal would be harmful to the country, and both should be opposed by regulators,” Wu stated.
The Bigger Problem and a Potential Solution
No matter the outcome in this situation, the underlying crisis endures.
“What we have now is a very structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard emphasized. Regulatory choices – dating back to 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 Federal Communications Commission chair refuses to acknowledge that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will never happen.
Measures that support independent news organizations, reinforce local journalism, fund public media, and prohibit the concentration of media power in very few hands are within reach – they are vital for a functioning democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be tools in the latest corporate chess match.
