This past Thursday night, as rumors swirled regarding an incident at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and guiding the public to her channel's 9pm newscast.
Even though it is by no means a perfect news source, her message rang true to many. It is one of the outlets where there exists reality-based and largely trustworthy reporting – especially during fast-moving events like the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain Situation Amid a Corporate Struggle
However CNN, now middle-aged, finds itself in a precarious situation as two huge media empires battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has been drawn into a high-stakes game of corporate ownership, rather than as a question of what serves the information-seeking public.
“This is yet another example of the deep structural problems with roots in many years of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.
“It gets presented as a financial tale with influential figures as the main characters, but there is very little discussion of the societal benefit,” Pickard added.
The Complicating Factor: Donald Trump
This situation is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Remember the shouts of “CNN sucks!” at his rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will protect him from journalistic oversight. That is part of why he seems to come down on the side of Paramount Skydance, which has made a unsolicited offer.
He has grounds to favor that suitor more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of Continued Uncertainty
Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a welcome development to many at the network, but it’s far from a guarantee of stability. That structure could position CNN for yet another acquisition. The cycle continues.
In the view of Timothy Wu, a lot 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.
“Each proposed deal would be detrimental to the country, and both should be opposed by regulators,” Wu recently wrote.
The Bigger Challenge and a Path Forward
Regardless of the resolution in this situation, the larger issue endures.
“Our current system is a very structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can address it.
Is this likely in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Change is very unlikely now, but that should not imply it will never happen.
Policies that support independent news organizations, bolster local journalism, fund public media, and outlaw the accumulation of media power in a handful of hands are not only possible – they are vital for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN shouldn’t be pawns in the newest corporate chess match.
