On Thursday evening, while unconfirmed reports spread concerning an incident at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Although CNN is certainly not a impeccable news source, her words resonated for numerous observers. It remains one of the broadcasters where you can find reality-based and generally reliable reporting – especially during fast-moving events such as the one developing in the vicinity of a New Hampshire storage facility.
A Vulnerable Position Amid a Business Battle
Yet CNN, now four and a half decades old, finds itself in a precarious position as two giant media empires vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has turned into a major game of corporate ownership, not as a question of what helps the news-consuming public.
“This is yet another example of the fundamental flaws with origins in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It is often framed as a financial tale with powerful individuals as the main characters, but there is very little discussion of the societal benefit,” Pickard explained.
The Complicating Factor: Donald Trump
This situation is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his chief “fake news” adversary.
Think back to the cries 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 official meetings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is part of why he seems to come down on the side of Paramount Skydance, which has made a unsolicited offer.
There is a basis to favor that company 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 historic news network.
A Possibility of Continued Uncertainty
Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a independent unit. That would be a welcome development to many at the network, but it’s far from a secure position. That setup could pave the way for CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should block both deals.
“Either merger would be detrimental to the country, and both should be contested by regulators,” Wu stated.
The Bigger Issue and a Way Ahead
No matter the outcome regarding CNN, the bigger problem persists.
“The present media landscape is a highly system hostile to democracy, but we must resist learned helplessness,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can tackle it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will be impossible forever.
Policies that support independent news organizations, aid local journalism, finance public media, and outlaw the consolidation of media power in very few hands are not only possible – they are essential for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations like CNN cannot be pieces in the latest acquisition battle.
