On Thursday evening, while unconfirmed reports spread regarding the Brown University gunman, CNN’s Kaitlan Collins took to social media, noting the confusion and guiding the public to her channel's 9pm newscast.
Although it is by no means a impeccable news source, her statement resonated for numerous observers. It is one of the broadcasters where one can locate grounded and mostly trustworthy reporting – particularly during breaking news situations such as the one unfolding close to a New Hampshire storage facility.
An Uncertain State During a High-Stakes Struggle
But the news network, now 45 years old, finds itself in a uncertain state as two giant media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a major game of business acquisition, not as a question of what serves the news-consuming public.
“This represents another instance of the profound systemic issues with origins in decades of governmental choices,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a financial tale with key players as the protagonists, but there is scant discussion of the societal benefit,” Pickard explained.
The Additional Factor: Political Influence
This situation is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Recall the cries of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now asserts that the network requires new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is one reason why he appears to support Paramount Skydance, which has made a hostile bid.
Trump has reason to prefer that company more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Future of Continued Instability
Significantly, if Netflix prevails, 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 far from a safe harbor. That setup could pave the way for CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by the government,” Wu recently wrote.
The Fundamental Problem and a Way Ahead
Regardless of the resolution in this situation, the underlying crisis persists.
“What we have now is a profoundly structure that undermines democracy, but we must resist learned helplessness,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can tackle it.
Will that happen in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will be impossible forever.
Initiatives that bolster independent news organizations, reinforce local journalism, subsidize public media, and prevent the concentration of media power in very few hands are achievable – they are essential for a functioning democracy.
In the world of media ownership, larger is not superior. And news organizations like CNN must not be pieces in the latest corporate chess match.
