This past Thursday night, as rumors swirled regarding an incident at Brown University, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
Even though CNN is certainly not a flawless news source, her statement seemed accurate to many. It stands as one of the broadcasters where there exists reality-based and largely dependable reporting – notably during crises like the one developing close to a New Hampshire storage facility.
An Uncertain Position Amid a Business Struggle
Yet CNN, now 45 years old, finds itself in a precarious position as two giant media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a high-risk game of corporate ownership, not as a question of what helps the information-seeking public.
“Here is one more case of the fundamental flaws with roots in decades of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The debate about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a business story with influential figures as the central actors, but there is scant discussion of the societal benefit,” Pickard said.
A Further Layer: Donald Trump
This situation is complicated by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” adversary.
Recall the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now says that CNN needs new ownership. You can read that as ownership that will shield him from negative coverage and examination. That is one reason why he seems to support Paramount Skydance, which has made a unsolicited offer.
There is a basis to like that bidder more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Possibility of Continued Instability
Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. That would be a relief to many at the network, but it’s not exactly a safe harbor. That structure could pave the way for CNN for another sale. The cycle continues.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Each proposed deal would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Core Problem and a Path Forward
Regardless of the resolution regarding CNN, the larger issue remains.
“Our current system is a very anti-democratic system, but we ought not succumb to learned helplessness,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can address it.
Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Reform is a distant prospect now, but that doesn’t mean it will not happen in the future.
Policies that support independent news organizations, reinforce local journalism, finance public media, and outlaw the consolidation of media power in very few hands are achievable – they are vital for a functioning democracy.
Regarding media ownership, bigger isn’t better. And news organizations such as CNN must not be pieces in the latest merger game.
