This past Thursday night, amid swirling speculation concerning an incident at Brown University, CNN’s Kaitlan Collins took to social media, noting the confusion and guiding the public to her channel's 9pm newscast.
Although the network is hardly a flawless news source, her statement seemed accurate for numerous observers. It remains one of the broadcasters where one can locate reality-based and generally dependable reporting – notably during crises like the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable Position Amid a Corporate Struggle
However CNN, now four and a half decades old, finds itself in a precarious position as two massive media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has become part of a high-risk game of corporate ownership, instead of as a question of what benefits the news-consuming public.
“This is yet another example of the deep structural problems with origins in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“It gets presented as a corporate drama with powerful individuals as the central actors, but there is hardly any discussion of the societal benefit,” Pickard said.
The Complicating Factor: Political Influence
This situation is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his primary “fake news” adversary.
Think back to the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will insulate him from criticism and scrutiny. That is a factor in why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like that bidder 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, owner of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of Further Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. Such a move could be a relief to many at the network, but it’s not exactly a guarantee of stability. That structure could set up CNN for a future sale. The cycle continues.
If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be contested by anti-trust authorities,” Wu stated.
The Bigger Challenge and a Way Ahead
No matter the outcome with this particular battle, the larger issue remains.
“The present media landscape is a very system hostile to democracy, but we must resist the belief that change is impossible,” Pickard said. Government actions – from the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can fix it.
Will that happen in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Change is highly improbable now, but that doesn’t mean it will be impossible forever.
Policies that strengthen independent news organizations, bolster local journalism, fund public media, and outlaw the consolidation of media power in a handful of hands are achievable – they are vital for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pieces in the most recent corporate chess match.
