Late Thursday, as rumors swirled concerning a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and directing people to her channel's 9pm newscast.
Although it is by no means a perfect news source, her words resonated for numerous observers. It remains one of the broadcasters where there exists fact-based and generally reliable reporting – particularly during fast-moving events like the one unfolding close to a New Hampshire storage facility.
An Uncertain Position During a High-Stakes Battle
But CNN, now 45 years old, finds itself in a vulnerable state as two massive media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a major game of business acquisition, instead of as a question of what serves the news-consuming public.
“This is yet another example of the deep structural problems with origins in decades of regulatory actions,” noted 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 – is it going to be Netflix or Paramount Skydance? – overlooks a more important point.
“It gets presented as a business story with key players as the protagonists, but there is very little discussion of the common good,” Pickard explained.
The Additional Element: Donald Trump
The CNN scenario is further muddied by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his primary “fake news” adversary.
Remember the shouts of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is one reason why he appears to favor Paramount Skydance, which has made a hostile bid.
He has grounds to like that suitor more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Possibility of Further Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s not exactly a safe harbor. That setup could pave the way for CNN for yet another acquisition. It never ends.
According to Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should disallow both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by the government,” Wu argued.
The Bigger Issue and a Potential Solution
Whatever happens in this situation, the underlying crisis remains.
“Our current system is a highly structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can fix 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 is not to say it will be impossible forever.
Policies that strengthen independent news organizations, bolster local journalism, fund 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, larger is not superior. And news organizations like CNN must not be tools in the newest acquisition battle.
