This past Thursday night, while unconfirmed reports spread concerning the Brown University gunman, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
Although it is by no means a perfect news source, her message rang true to many. It remains one of the broadcasters where one can locate grounded and generally dependable reporting – notably during crises such as the one unfolding close to a New Hampshire storage facility.
An Uncertain Position Amid a Business Tug-of-War
However CNN, now 45 years old, finds itself in a uncertain situation as two giant media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has become part of a high-risk game of business acquisition, instead of as a question of what serves the information-seeking public.
“This is yet another example of the deep structural problems with roots in decades of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a larger point.
“It is often framed as a business story with powerful individuals as the central actors, but there is very little discussion of the public interest,” Pickard explained.
The Complicating Element: Political Influence
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Remember the cries 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. This can be interpreted as ownership that will shield him from negative coverage and examination. That is one reason why he seems to favor Paramount Skydance, which has made a hostile bid.
There is a basis to favor 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.
Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of More Turmoil
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 relief to many at the network, but it’s hardly a guarantee of stability. That structure could pave the way for CNN for another sale. The cycle continues.
According to Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should block both deals.
“Each proposed deal would be harmful to the country, and both should be challenged by the government,” Wu stated.
The Fundamental Issue and a Way Ahead
Whatever happens in this situation, the bigger problem persists.
“What we have now is a very structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can address it.
Can reform occur in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will not happen in the future.
Initiatives that support independent news organizations, bolster local journalism, fund public media, and prevent the consolidation of media power in too few hands are achievable – they are essential for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN shouldn’t be pieces in the most recent acquisition battle.
