Late Thursday, while unconfirmed reports spread about a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
While it is by no means a flawless news source, her message seemed accurate for numerous observers. It remains one of the outlets where there exists grounded and mostly reliable reporting – notably during crises such as the one developing close to a New Hampshire storage facility.
A Precarious Situation During a Business Tug-of-War
Yet the news network, now 45 years old, finds itself in a vulnerable position as two huge media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has turned into a high-risk game of corporate ownership, rather than as a question of what helps the information-seeking public.
“This is yet another example of the profound systemic issues with roots in many years of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a corporate drama with influential figures as the central actors, but there is scant discussion of the public interest,” Pickard said.
The Complicating Factor: Political Influence
The CNN scenario is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” adversary.
Recall the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is one reason why he appears to support Paramount Skydance, which has made a hostile bid.
He has grounds to prefer that suitor more. For one thing, it is controlled 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 right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of Continued Instability
Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. This might be a welcome development to many at the network, but it’s hardly a guarantee of stability. That structure could pave the way for CNN for another sale. There is no finish line.
If you ask Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Each proposed deal would be detrimental to the country, and both should be challenged by regulators,” Wu recently wrote.
The Core Issue and a Way Ahead
Whatever happens in this situation, the underlying crisis remains.
“Our current system is a profoundly system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and revised policy decisions can tackle it.
Will that happen in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Reform is a distant prospect now, but that is not to say it will never happen.
Measures that bolster independent news organizations, reinforce local journalism, finance public media, and outlaw the concentration of media power in too few hands are achievable – they are essential for a robust democracy.
In the world of media ownership, size does not equal quality. And news organizations such as CNN cannot be pieces in the most recent corporate chess match.
