This past Thursday night, as rumors swirled about the Brown University gunman, CNN’s Kaitlan Collins used social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Although it is by no means a perfect news source, her message seemed accurate for numerous observers. It stands as one of the outlets where one can locate fact-based and largely dependable reporting – especially during breaking news situations like the one taking place close to a New Hampshire storage facility.
A Precarious State Amid a Corporate Struggle
But the news network, now four and a half decades old, finds itself in a vulnerable situation as two massive media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has been drawn into a high-stakes game of corporate ownership, instead of as a question of what benefits the information-seeking public.
“This is yet another example of the deep structural problems with origins in decades of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a business story with influential figures as the central actors, but there is scant discussion of the common good,” Pickard said.
A Further Element: The Former President
The network's predicament is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Recall the shouts of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is one reason why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.
There is a basis to favor that company more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
An Outcome of More Instability
It is important to note, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. This might be a relief to many at the network, but it’s not exactly a guarantee of stability. That arrangement could pave the way for CNN for a future sale. There is no finish line.
According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that competition laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by the government,” Wu recently wrote.
The Bigger Challenge and a Potential Solution
No matter the outcome with this particular battle, the bigger problem endures.
“What we have now is a profoundly structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can address it.
Will that happen in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Reform is highly improbable now, but that should not imply it will never happen.
Initiatives that strengthen independent news organizations, reinforce local journalism, fund public media, and prohibit the accumulation of media power in very few hands are not only possible – they are necessary for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be tools in the latest corporate chess match.
