On Thursday evening, as rumors swirled concerning an incident at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Even though CNN is certainly not a perfect news source, her words rang true for a lot of people. It is one of the outlets where there exists fact-based and mostly trustworthy reporting – especially during fast-moving events such as the one unfolding close to a New Hampshire storage facility.
A Vulnerable Situation During a Business Tug-of-War
Yet the news network, now 45 years old, finds itself in a uncertain situation as two giant media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a high-stakes game of corporate ownership, rather than as a question of what helps the news-consuming public.
“This represents another instance of the deep structural problems with origins in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The debate about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a financial tale with powerful individuals as the protagonists, but there is hardly any discussion of the public interest,” Pickard said.
A Further Layer: The Former President
This situation is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his chief “fake news” adversary.
Think back to the cries of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is part of why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to favor that company more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.
An Outcome of More Uncertainty
Significantly, if Netflix is successful, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a welcome development to many at the network, but it’s hardly a guarantee of stability. That arrangement could pave the way for CNN for another sale. The cycle continues.
If you ask Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by regulators,” Wu argued.
The Core Problem and a Path Forward
No matter the outcome in this situation, the bigger problem endures.
“The present media landscape is a highly system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and different policy decisions can fix it.
Will that happen in an era where the head of the FCC won’t even affirm that the agency is independent? Reform is very unlikely now, but that is not to say it will not happen in the future.
Policies that support independent news organizations, reinforce local journalism, fund public media, and outlaw the consolidation of media power in too few hands are within reach – they are vital for a functioning democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be pawns in the latest corporate chess match.
