On Thursday evening, while unconfirmed reports spread regarding an incident at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
While it is by no means a flawless news source, her statement seemed accurate for a lot of people. It stands as one of the broadcasters where there exists grounded and mostly reliable reporting – particularly during breaking news situations such as the one developing in the vicinity of a New Hampshire storage facility.
A Vulnerable Situation Amid a Business Struggle
But the news network, now 45 years old, finds itself in a vulnerable state as two huge media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has been drawn into a high-stakes game of business acquisition, not as a question of what benefits the news-consuming public.
“This represents another instance of the fundamental flaws with origins in decades of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a financial tale with powerful individuals as the central actors, but there is scant discussion of the societal benefit,” Pickard said.
The Additional Layer: Donald Trump
This situation is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his main “fake news” foe.
Remember the chants 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 says that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is a factor in why he appears to favor Paramount Skydance, which has made a hostile bid.
There is a basis to prefer that suitor 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.
Paramount, 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.
An Outcome of More Instability
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. That would be a relief to many at the network, but it’s far from a safe harbor. That arrangement could pave the way for CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, a great deal of this is illegal, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Each proposed deal would be harmful to the country, and both should be opposed by regulators,” Wu recently wrote.
The Fundamental Problem and a Path Forward
No matter the outcome regarding CNN, the bigger problem remains.
“The present media landscape is a profoundly anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can address it.
Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Reform is highly improbable now, but that should not imply it will never happen.
Initiatives that support independent news organizations, reinforce local journalism, finance public media, and outlaw the consolidation of media power in too few hands are within reach – they are essential for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations such as CNN shouldn’t be tools in the newest acquisition battle.
