Late Thursday, amid swirling speculation about a shooting at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Even though it is by no means a impeccable news source, her statement resonated for a lot of people. It remains one of the broadcasters where you can find fact-based and mostly trustworthy reporting – particularly during crises such as the one taking place close to a New Hampshire storage facility.
A Vulnerable Position Amid a Corporate Struggle
However the news network, now 45 years old, finds itself in a uncertain state as two massive media empires battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has become part of a high-stakes game of corporate ownership, rather than as a question of what benefits the news-consuming public.
“Here is one more case of the profound systemic issues with roots in many years of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a financial tale with influential figures as the protagonists, but there is very little discussion of the common good,” Pickard said.
A Further Element: Political Influence
This situation is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” adversary.
Think back to the chants of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is a factor in why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds 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.
The company, parent of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that storied news network.
A Possibility of Continued Uncertainty
Significantly, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a relief to many at the network, but it’s not exactly a guarantee of stability. That structure could position CNN for a future sale. The cycle continues.
In the view of Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that competition laws should disallow both deals.
“Either merger would be harmful to the country, and both should be opposed by regulators,” Wu stated.
The Core Issue and a Path Forward
Regardless of the resolution regarding CNN, the larger issue remains.
“What we have now is a very system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and new policy decisions can address it.
Will that happen in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that should not imply it will not happen in the future.
Policies that support independent news organizations, aid local journalism, subsidize public media, and prohibit the consolidation of media power in very few hands are not only possible – they are essential for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations including CNN cannot be pieces in the most recent merger game.
