This past Thursday night, amid swirling speculation about an incident at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
While the network is hardly a perfect news source, her words resonated to many. It stands as one of the organizations where one can locate reality-based and generally dependable reporting – especially during crises like the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable Situation During a Corporate Battle
However the news network, now middle-aged, finds itself in a uncertain position as two giant media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a high-stakes game of business acquisition, not as a question of what serves the news-consuming public.
“This is yet another example of the profound systemic issues with roots in decades of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a business story with influential figures as the main characters, but there is hardly any discussion of the societal benefit,” Pickard said.
The Additional Factor: Donald Trump
This situation is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” antagonist.
Think back to the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is part of why he seems to come down on the side of Paramount Skydance, which has made a unsolicited offer.
Trump has reason to like that bidder more. For one thing, it is led 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 placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of Further Turmoil
Significantly, if Netflix is successful, CNN and other cable outlets would first be separated into a separate entity. That would be a welcome development to many at the network, but it’s hardly a guarantee of stability. That setup could pave the way for CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by the government,” Wu recently wrote.
The Fundamental Issue and a Potential Solution
Regardless of the resolution with this particular battle, the bigger problem endures.
“What we have now is a very system hostile to democracy, but we must resist the belief that change is impossible,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to foster this overly commercial monster, and different policy decisions can tackle it.
Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Change is highly improbable now, but that should not imply it will be impossible forever.
Measures that bolster independent news organizations, aid local journalism, subsidize public media, and prohibit the consolidation of media power in very few hands are not only possible – they are vital for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN shouldn’t be pawns in the newest acquisition battle.
