This past Thursday night, amid swirling speculation regarding an incident at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
While it is by no means a flawless news source, her words rang true for a lot of people. It remains one of the broadcasters where there exists reality-based and generally dependable reporting – particularly during breaking news situations like the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain Situation During a Business Tug-of-War
Yet the news network, now four and a half decades old, finds itself in a precarious position as two huge media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a high-risk game of corporate ownership, not as a question of what benefits the news-consuming public.
“This represents another instance of the fundamental flaws with roots in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It gets presented as a corporate drama with influential figures as the central actors, but there is hardly any discussion of the public interest,” Pickard explained.
A Further Layer: Donald Trump
The CNN scenario is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his main “fake news” foe.
Think back to the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now claims that CNN needs new ownership. You can read that as ownership that will insulate him from criticism and scrutiny. That is a factor in why he seems to support Paramount Skydance, which has made a unsolicited offer.
He has grounds 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, owner 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.
An Outcome of Continued Uncertainty
It is important to note, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. That would be a welcome development to many at the network, but it’s far from a secure position. That arrangement could position CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Either merger would be bad for the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Fundamental Problem and a Way Ahead
No matter the outcome regarding CNN, the larger issue remains.
“What we have now is a very structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard noted. Government actions – dating back to the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can tackle it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is very unlikely now, but that should not imply it will never happen.
Policies that support independent news organizations, bolster local journalism, subsidize public media, and outlaw the concentration of media power in too few hands are within reach – they are necessary for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN must not be pawns in the newest corporate chess match.
