Late Thursday, as rumors swirled concerning the Brown University gunman, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
Even though it is by no means a impeccable news source, her statement seemed accurate for a lot of people. It remains one of the outlets where you can find fact-based and generally trustworthy reporting – particularly during breaking news situations like the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious State Amid a Business Tug-of-War
But CNN, now four and a half decades old, finds itself in a uncertain position as two massive media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has turned into a major game of corporate ownership, instead of as a question of what helps the information-seeking public.
“This is yet another example of the fundamental flaws with origins in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp 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 common good,” Pickard said.
A Further Factor: Political Influence
This situation is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his chief “fake news” adversary.
Think back to the chants of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is a factor in why he seems to favor Paramount Skydance, which has made a unsolicited offer.
Trump has reason to like that suitor 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 installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Possibility of Further Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. Such a move could be a welcome development to many at the network, but it’s not exactly a secure position. That setup could position CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance recently argued that competition laws should disallow both deals.
“Either merger would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu argued.
The Core Problem and a Path Forward
Regardless of the resolution with this particular battle, the larger issue endures.
“What we have now is a highly structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to create this overly commercial monster, and new policy decisions can tackle it.
Is this likely in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Reform is very unlikely now, but that should not imply it will be impossible forever.
Policies that support independent news organizations, aid local journalism, subsidize public media, and prohibit the concentration of media power in too few hands are not only possible – they are essential for a functioning democracy.
Regarding media ownership, bigger isn’t better. And news organizations including CNN cannot be pawns in the latest merger game.
