On Thursday evening, as rumors swirled about an incident at Brown University, CNN’s Kaitlan Collins took to social media, noting the confusion and directing people to her network’s 9pm newscast.
Even though CNN is certainly not a impeccable news source, her statement rang true for a lot of people. It stands as one of the outlets where there exists grounded and generally dependable reporting – notably during fast-moving events like the one taking place close to a New Hampshire storage facility.
An Uncertain Situation During a Corporate Tug-of-War
Yet the news network, now 45 years old, finds itself in a uncertain position as two giant media empires battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a high-risk game of corporate ownership, not as a question of what serves the news-consuming public.
“This is yet another example of the profound systemic issues with origins in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It gets presented as a financial tale with powerful individuals as the central actors, but there is very little discussion of the societal benefit,” Pickard explained.
The Additional Factor: Political Influence
This situation is further muddied by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Remember the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now claims that the network requires new ownership. You can read that as ownership that will shield him from criticism and scrutiny. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to prefer that suitor more. For one thing, it is controlled 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 placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of More Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. This might be a relief to many at the network, but it’s hardly a guarantee of stability. That arrangement could pave the way for CNN for a future sale. The cycle continues.
If you ask Timothy Wu, a great deal of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be opposed by regulators,” Wu argued.
The Bigger Problem and a Way Ahead
Whatever happens with this particular battle, the larger issue endures.
“What we have now is a highly structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and revised policy decisions can tackle 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 doesn’t mean it will never happen.
Measures that strengthen independent news organizations, aid local journalism, fund public media, and prevent the consolidation of media power in too few hands are not only possible – they are necessary for a robust democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN shouldn’t be pawns in the newest acquisition battle.
