This past Thursday night, as rumors swirled about the Brown University gunman, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and pointing viewers to her channel's 9pm newscast.
Even though the network is hardly a impeccable news source, her message seemed accurate for numerous observers. It stands as one of the outlets where there exists fact-based and generally trustworthy reporting – notably during breaking news situations like the one unfolding close to a New Hampshire storage facility.
A Vulnerable State Amid a High-Stakes Struggle
Yet the news network, now middle-aged, finds itself in a uncertain situation as two massive media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has become part of a major game of business acquisition, instead of as a question of what helps the news-consuming 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 speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a business story with key players as the central actors, but there is very little discussion of the societal benefit,” Pickard explained.
The Complicating Element: The Former President
The CNN scenario is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” adversary.
Recall the cries of “CNN sucks!” at his rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is a factor in why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to favor 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.
The company, owner of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Future of More Uncertainty
It is important to note, if Netflix prevails, CNN and other cable outlets would first be separated into a separate entity. That would be a relief to many at the network, but it’s far from a secure position. That structure could pave the way for CNN for a future sale. The cycle continues.
In the view of Timothy Wu, a great deal of this is against the law, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should disallow both deals.
“Each proposed deal would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Bigger Issue and a Way Ahead
Regardless of the resolution in this situation, the larger issue endures.
“What we have now is a highly structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can tackle it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will never happen.
Initiatives that strengthen independent news organizations, reinforce local journalism, fund public media, and prevent the consolidation of media power in very few hands are not only possible – they are necessary for a healthy democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN shouldn’t be tools in the newest acquisition battle.
