On Thursday evening, as rumors swirled 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 network’s 9pm newscast.
Even though it is by no means a perfect news source, her statement resonated to many. It remains one of the outlets where you can find grounded and generally dependable reporting – notably during fast-moving events like the one developing close to a New Hampshire storage facility.
A Precarious Position Amid a Business Tug-of-War
Yet CNN, now middle-aged, finds itself in a uncertain position as two huge media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has turned into a high-risk game of corporate ownership, rather than as a question of what helps the information-seeking public.
“Here is one more case of the deep structural problems with roots in many years of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a business story with powerful individuals as the central actors, but there is scant discussion of the societal benefit,” Pickard explained.
A Further Layer: Donald Trump
This situation is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Remember the chants of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now claims that CNN needs new ownership. You can read that as ownership that will protect 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 hostile bid.
Trump has reason to like that suitor more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that venerable news network.
An Outcome of Continued Instability
It is important to note, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a relief to many at the network, but it’s far from a secure position. That setup could set up CNN for yet another acquisition. The cycle continues.
If you ask Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should block both deals.
“Either merger would be harmful to the country, and both should be contested by regulators,” Wu argued.
The Fundamental Issue and a Path Forward
Whatever happens in this situation, the underlying crisis endures.
“The present media landscape is a highly system hostile to democracy, but we must resist learned helplessness,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can fix it.
Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will never happen.
Initiatives that support independent news organizations, bolster local journalism, finance public media, and prevent the concentration of media power in a handful of hands are achievable – they are vital for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations like CNN shouldn’t be pawns in the newest corporate chess match.
