This past Thursday night, as rumors swirled regarding the Brown University gunman, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Although CNN is certainly not a perfect news source, her words resonated for a lot of people. It is one of the outlets where one can locate reality-based and largely trustworthy reporting – notably during fast-moving events such as the one unfolding close to a New Hampshire storage facility.
A Precarious Situation Amid a Business Tug-of-War
But the news network, now middle-aged, finds itself in a precarious situation as two massive media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a major game of corporate ownership, instead of as a question of what benefits the information-seeking public.
“Here is one more case of the deep structural problems with roots in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.
“It is often framed as a corporate drama with key players as the protagonists, but there is very little discussion of the public interest,” Pickard said.
The Complicating Factor: Donald Trump
This situation is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Remember the cries of “CNN sucks!” at Trump's rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is one reason why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to favor that suitor 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.
Paramount, owner of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Future of Continued Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a separate entity. Such a move could be a welcome development to many at the network, but it’s hardly a safe harbor. That setup could set up CNN for a future sale. There is no finish line.
If you ask Timothy Wu, much of this is against the law, 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 the government,” Wu argued.
The Bigger Issue and a Path Forward
Regardless of the resolution with this particular battle, the underlying crisis endures.
“What we have now is a profoundly structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard noted. Government actions – from the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can address it.
Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that is not to say it will never happen.
Measures that strengthen independent news organizations, bolster local journalism, finance public media, and outlaw the consolidation of media power in too few hands are achievable – they are essential for a healthy democracy.
When it comes to media ownership, size does not equal quality. And news organizations such as CNN shouldn’t be pieces in the latest acquisition battle.
