Late Thursday, as rumors swirled regarding the Brown University gunman, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
Although it is by no means a flawless news source, her statement seemed accurate for a lot of people. It stands as one of the organizations where there exists grounded and largely dependable reporting – notably during fast-moving events like the one unfolding near a New Hampshire storage facility.
An Uncertain Situation Amid a Business Struggle
Yet the news network, now four and a half decades old, finds itself in a vulnerable position as two giant media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has been drawn into a major game of business acquisition, not as a question of what serves the information-seeking public.
“This is yet another example of the fundamental flaws with origins in decades of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a corporate drama with powerful individuals as the main characters, but there is very little discussion of the public interest,” Pickard added.
A Further Factor: The Former President
This situation is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his chief “fake news” antagonist.
Recall the cries of “CNN sucks!” at the president’s rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is one reason why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to prefer that suitor more. For one thing, it is run 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 installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Future of More Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a relief to many at the network, but it’s not exactly a safe harbor. That arrangement could position CNN for yet another acquisition. It never ends.
In the view of Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be contested by anti-trust authorities,” Wu argued.
The Bigger Challenge and a Potential Solution
Whatever happens regarding CNN, the larger issue endures.
“What we have now is a profoundly anti-democratic system, but we ought not succumb to learned helplessness,” Pickard emphasized. Policy decisions – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can tackle it.
Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Reform is highly improbable now, but that is not to say it will not happen in the future.
Measures that strengthen independent news organizations, aid local journalism, subsidize public media, and prevent the concentration of media power in too few hands are within reach – they are necessary for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN must not be tools in the newest corporate chess match.
