On Thursday evening, while unconfirmed reports spread about an incident at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Even though it is by no means a impeccable news source, her message rang true for numerous observers. It stands as one of the broadcasters where you can find grounded and largely reliable reporting – particularly during crises like the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious State Amid a High-Stakes Battle
However the news network, now 45 years old, finds itself in a vulnerable position as two huge media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has become part of a high-stakes game of corporate ownership, instead of as a question of what serves the information-seeking public.
“This represents another instance of the fundamental flaws with roots in decades of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“The narrative is crafted as a financial tale with influential figures as the protagonists, but there is very little discussion of the public interest,” Pickard explained.
The Additional Element: 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” adversary.
Think back to the shouts of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is one reason why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to prefer that bidder more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
An Outcome of More Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a welcome development to many at the network, but it’s hardly a guarantee of stability. That structure could pave the way for CNN for another sale. There is no finish line.
If you ask Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that competition laws should prohibit both deals.
“Each proposed deal would be harmful to the country, and both should be contested by anti-trust authorities,” Wu recently wrote.
The Fundamental Problem and a Potential Solution
No matter the outcome in this situation, the larger issue remains.
“What we have now is a highly system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can fix it.
Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that is not to say it will not happen in the future.
Policies that support independent news organizations, aid local journalism, finance public media, and outlaw the consolidation of media power in very few hands are within reach – they are necessary for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN shouldn’t be pieces in the latest corporate chess match.
