On Thursday evening, while unconfirmed reports spread regarding an incident at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and directing people to her channel's 9pm newscast.
Although it is by no means a perfect news source, her statement rang true for a lot of people. It is one of the broadcasters where there exists fact-based and mostly trustworthy reporting – especially during crises like the one developing near a New Hampshire storage facility.
A Precarious State During a Business Battle
But the news network, now four and a half decades old, finds itself in a uncertain position as two huge media corporations battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has turned into a major game of mergers and acquisitions, rather than as a question of what serves the news-consuming public.
“Here is one more case of the profound systemic issues with origins in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a financial tale with key players as the protagonists, but there is scant discussion of the societal benefit,” Pickard said.
The Additional Layer: Political Influence
This situation is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” adversary.
Remember the shouts of “CNN sucks!” at the president’s rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now claims that CNN needs new ownership. You can read that as ownership that will shield him from journalistic oversight. That is a factor in why he seems to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to like that suitor 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.
Paramount, parent of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Future of More Uncertainty
Significantly, if Netflix prevails, CNN and other cable outlets would first be separated into a separate entity. This might be a welcome development to many at the network, but it’s far from a safe harbor. That setup could pave the way for CNN for a future 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.
“Both acquisition attempts would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Bigger Problem and a Way Ahead
No matter the outcome regarding CNN, the bigger problem persists.
“The present media landscape is a very anti-democratic system, but we ought not succumb to learned helplessness,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can address it.
Can reform occur in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Reform is a distant prospect now, but that should not imply it will never happen.
Policies that bolster independent news organizations, bolster local journalism, finance public media, and prohibit the concentration of media power in a handful of hands are within reach – they are necessary for a healthy democracy.
In the world of media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be tools in the newest corporate chess match.
