On Thursday evening, as rumors swirled regarding an incident at Brown University, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and pointing viewers to her channel's 9pm newscast.
Even though it is by no means a perfect news source, her statement resonated for a lot of people. It stands as one of the outlets where you can find grounded and generally dependable reporting – notably during fast-moving events like the one taking place close to a New Hampshire storage facility.
An Uncertain State During a High-Stakes Struggle
However CNN, now middle-aged, finds itself in a vulnerable position as two huge media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a major game of corporate ownership, rather than as a question of what serves the information-seeking public.
“This is yet another example of the profound systemic issues with roots in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The debate about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It gets presented as a corporate drama with powerful individuals as the central actors, but there is very little discussion of the societal benefit,” Pickard added.
A Further Element: Political Influence
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” foe.
Remember the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is part of 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 led 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 right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Possibility of Continued Turmoil
Significantly, 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 far from a guarantee of stability. That structure could position CNN for yet another acquisition. The cycle continues.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Each proposed deal would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu argued.
The Bigger Issue and a Way Ahead
Whatever happens with this particular battle, the underlying crisis persists.
“Our current system is a very system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can address it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will be impossible forever.
Initiatives that bolster independent news organizations, bolster local journalism, subsidize public media, and prevent the concentration of media power in very few hands are not only possible – they are vital for a functioning democracy.
In the world of media ownership, bigger isn’t better. And news organizations such as CNN must not be pawns in the newest merger game.
