On Thursday evening, while unconfirmed reports spread regarding a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
While it is by no means a perfect news source, her message seemed accurate for numerous observers. It remains one of the outlets where there exists grounded and largely trustworthy reporting – particularly during breaking news situations like the one developing near a New Hampshire storage facility.
A Precarious Situation Amid a Business Tug-of-War
Yet the news network, now middle-aged, finds itself in a vulnerable position as two massive media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a high-risk game of corporate ownership, not as a question of what helps the news-consuming public.
“Here is one more case of the deep structural problems with roots in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“It gets presented as a business story with key players as the central actors, but there is hardly any discussion of the common good,” Pickard said.
The Additional Layer: The Former President
This situation is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his primary “fake news” adversary.
Remember the cries 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 White House briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will protect him from journalistic oversight. That is one reason why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to favor that bidder more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Possibility of Further Turmoil
Notably, if Netflix wins, 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 secure position. That setup could set up CNN for another sale. It never ends.
According to Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be challenged by the government,” Wu recently wrote.
The Bigger Challenge and a Path Forward
Whatever happens with this particular battle, the larger issue remains.
“The present media landscape is a profoundly system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Government actions – from the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can address it.
Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is very unlikely now, but that should not imply it will be impossible forever.
Measures that strengthen independent news organizations, bolster local journalism, finance public media, and outlaw the concentration of media power in too few hands are not only possible – they are vital for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations including CNN must not be tools in the newest acquisition battle.
