On Thursday evening, as rumors swirled about an incident at Brown University, CNN’s Kaitlan Collins took to social media, noting the confusion and directing people to her channel's 9pm newscast.
Even though CNN is certainly not a flawless news source, her message seemed accurate to many. It remains one of the broadcasters where you can find fact-based and largely trustworthy reporting – notably during crises like the one unfolding close to a New Hampshire storage facility.
A Vulnerable Position Amid a Business Tug-of-War
But the news network, now 45 years old, finds itself in a uncertain state as two giant media empires compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a high-risk game of corporate ownership, instead of as a question of what serves the news-consuming public.
“This represents another instance of the profound systemic issues with origins in many years of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a financial tale with powerful individuals as the central actors, but there is hardly any discussion of the societal benefit,” Pickard added.
The Additional Factor: Political Influence
This situation is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” antagonist.
Remember the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that CNN needs new ownership. You can read that as ownership that will protect him from journalistic oversight. That is a factor in why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to prefer that company more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Future of Continued Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a independent unit. Such a move could be a welcome development to many at the network, but it’s hardly a secure position. That structure could set up CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Either merger would be bad for the country, and both should be opposed by anti-trust authorities,” Wu recently wrote.
The Core Issue and a Potential Solution
Whatever happens regarding CNN, the underlying crisis remains.
“The present media landscape is a very structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard noted. Government actions – from the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can tackle it.
Is this likely in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will not happen in the future.
Policies that bolster independent news organizations, aid local journalism, fund public media, and outlaw the accumulation of media power in very few hands are achievable – they are necessary for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN must not be pieces in the latest corporate chess match.
