This past Thursday night, as rumors swirled concerning the Brown University gunman, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
Although the network is hardly a flawless news source, her message rang true for numerous observers. It remains one of the organizations where there exists fact-based and generally dependable reporting – particularly during crises such as the one developing close to a New Hampshire storage facility.
A Precarious Position Amid a High-Stakes Tug-of-War
But the news network, now 45 years old, finds itself in a uncertain situation as two giant media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a high-stakes game of corporate ownership, not as a question of what serves the news-consuming public.
“Here is one more case of the deep structural problems with roots in many years of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a more important point.
“It gets presented as a financial tale with powerful individuals as the central actors, but there is hardly any discussion of the common good,” Pickard explained.
The Complicating Factor: The Former President
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Recall the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
He has grounds to like 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, owner of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that storied news network.
A Possibility of Continued Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. That would be a relief to many at the network, but it’s hardly a secure position. That structure could pave the way for CNN for a future sale. It never ends.
If you ask Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that competition laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Bigger Challenge and a Way Ahead
No matter the outcome with this particular battle, the underlying crisis endures.
“Our current system is a very anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can address it.
Will that happen in an era where the head of the FCC won’t even affirm that the agency is independent? Reform is very unlikely now, but that is not to say it will never happen.
Policies that support independent news organizations, aid local journalism, finance public media, and prevent the accumulation of media power in too few hands are achievable – they are essential for a robust democracy.
When it comes to media ownership, size does not equal quality. And news organizations like CNN shouldn’t be pawns in the newest acquisition battle.
