This past Thursday night, while unconfirmed reports spread concerning an incident at Brown University, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
Even though it is by no means a impeccable news source, her message seemed accurate to many. It remains one of the outlets where you can find reality-based and largely dependable reporting – notably during fast-moving events such as the one unfolding in the vicinity of a New Hampshire storage facility.
An Uncertain Situation Amid a High-Stakes Tug-of-War
But the news network, now middle-aged, finds itself in a vulnerable state as two huge media corporations vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a high-risk game of business acquisition, not as a question of what helps the information-seeking public.
“Here is one more case of the profound systemic issues with origins in many years of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a corporate drama with powerful individuals as the main characters, but there is hardly any discussion of the public interest,” Pickard explained.
A Further Factor: The Former President
This situation is made more complex by Donald Trump’s opinions about a network he has consistently labeled as perhaps his main “fake news” foe.
Think back to the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will shield 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 bidder more. For one thing, it is run 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 installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that storied news network.
An Outcome of Continued Instability
Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. This might be a welcome development to many at the network, but it’s hardly a guarantee of stability. That setup could position CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.
“Each proposed deal would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu argued.
The Fundamental Problem and a Potential Solution
Whatever happens with this particular battle, the bigger problem persists.
“The present media landscape is a very anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can tackle it.
Will that happen in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will be impossible forever.
Measures that support independent news organizations, bolster local journalism, finance public media, and prevent the consolidation of media power in very 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 like CNN shouldn’t be pieces in the latest acquisition battle.
