Late Thursday, as rumors swirled concerning a shooting at Brown University, CNN’s Kaitlan Collins took to social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
While it is by no means a impeccable news source, her words rang true to many. It is one of the outlets where one can locate reality-based and mostly reliable reporting – particularly during breaking news situations like the one unfolding in the vicinity of a New Hampshire storage facility.
An Uncertain Position Amid a High-Stakes Struggle
But CNN, now four and a half decades old, finds itself in a precarious state as two giant media corporations battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has been drawn into a high-risk game of corporate ownership, not as a question of what helps the news-consuming public.
“This is yet another example of the deep structural problems with origins in many years of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“The narrative is crafted as a corporate drama with powerful individuals as the central actors, but there is hardly any discussion of the common good,” Pickard added.
A Further Factor: Donald Trump
This situation is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Remember the shouts of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his clashes 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 a factor in why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to favor that suitor more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Possibility of Continued Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a separate entity. That would be a relief to many at the network, but it’s hardly a secure position. That setup could position CNN for another sale. The cycle continues.
According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that competition laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be opposed by regulators,” Wu stated.
The Bigger Challenge and a Way Ahead
Regardless of the resolution in this situation, the bigger problem persists.
“What we have now is a very structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Government actions – from the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can tackle it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that doesn’t mean it will be impossible forever.
Policies that support independent news organizations, aid local journalism, fund public media, and prevent the concentration of media power in very few hands are not only possible – they are vital for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN shouldn’t be tools in the most recent acquisition battle.
