This past Thursday night, amid swirling speculation about an incident at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
Even though it is by no means a perfect news source, her words resonated for numerous observers. It stands as one of the broadcasters where there exists grounded and generally trustworthy reporting – particularly during crises such as the one unfolding close to a New Hampshire storage facility.
An Uncertain Position During a Business Struggle
Yet the news network, now 45 years old, finds itself in a precarious state as two giant media empires vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has been drawn into a high-risk game of business acquisition, not as a question of what serves the news-consuming public.
“This is yet another example of the deep structural problems with origins in many years of governmental choices,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“The narrative is crafted as a financial tale with powerful individuals as the central actors, but there is very little discussion of the public interest,” Pickard explained.
A Further Layer: The Former President
The CNN scenario is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his primary “fake news” foe.
Think back to the chants of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is part of why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis 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, owner of CBS News, also recently appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
An Outcome of More Instability
Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a separate entity. Such a move could be a welcome development to many at the network, but it’s far from a safe harbor. That arrangement could position CNN for a future sale. It never ends.
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.
“Either merger would be bad for the country, and both should be opposed by regulators,” Wu recently wrote.
The Bigger Challenge and a Path Forward
Regardless of the resolution in this situation, the underlying crisis persists.
“Our current system is a very system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard noted. Policy decisions – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can tackle it.
Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Change is highly improbable now, but that doesn’t mean it will be impossible forever.
Initiatives that strengthen independent news organizations, reinforce local journalism, finance public media, and prohibit the consolidation of media power in a handful of hands are achievable – they are vital for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN cannot be pieces in the most recent corporate chess match.
