This past Thursday night, amid swirling speculation concerning the Brown University gunman, CNN’s Kaitlan Collins posted on social media, noting the confusion and directing people to her channel's 9pm newscast.
Even though CNN is certainly not a perfect news source, her message resonated for numerous observers. It is one of the outlets where there exists reality-based and largely reliable reporting – notably during breaking news situations such as the one developing close to a New Hampshire storage facility.
A Precarious Position During a Corporate Battle
But 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.
Regardless of who wins, the fate of CNN has become part of a high-stakes game of business acquisition, not as a question of what helps the information-seeking public.
“This represents another instance of the profound systemic issues with origins in many years of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a broader 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 said.
The Complicating Layer: Donald Trump
This situation is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Recall the cries of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that the network requires 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 support Paramount Skydance, which has made a unsolicited offer.
He has grounds to like that bidder 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.
Paramount, owner of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of More Uncertainty
It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. This might be a relief to many at the network, but it’s not exactly a guarantee of stability. That setup could pave the way for CNN for a future sale. The cycle continues.
If you ask Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by regulators,” Wu argued.
The Core Problem and a Potential Solution
Regardless of the resolution with this particular battle, the larger issue persists.
“Our current system is a very system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can address it.
Is this likely in an era where the top communications regulator won’t even affirm that the agency is independent? Change is a distant prospect now, but that doesn’t mean it will never happen.
Measures that bolster independent news organizations, bolster local journalism, finance public media, and outlaw the consolidation of media power in a handful of hands are within reach – they are vital for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations such as CNN cannot be tools in the latest acquisition battle.
