This past Thursday night, amid swirling speculation regarding an incident at Brown University, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
Even though the network is hardly a perfect news source, her statement rang true for numerous observers. It is one of the broadcasters where there exists reality-based and generally dependable reporting – particularly during fast-moving events such as the one developing in the vicinity of a New Hampshire storage facility.
A Vulnerable Position During a Corporate Battle
Yet the news network, now 45 years old, finds itself in a precarious state as two massive media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has been drawn into a high-risk game of corporate ownership, rather than as a question of what serves the news-consuming public.
“This represents another instance of the deep structural problems with roots in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The debate about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a business story with key players as the central actors, but there is very little discussion of the public interest,” Pickard added.
The Additional Element: Political Influence
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his primary “fake news” adversary.
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 press briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is a factor in why he seems to come down on the side of Paramount Skydance, which has made a unsolicited offer.
There is a basis to like that bidder 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, parent of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of More Instability
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a independent unit. This might be a relief to many at the network, but it’s far from a guarantee of stability. That setup could pave the way for CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.
“Each proposed deal would be bad for the country, and both should be opposed by the government,” Wu argued.
The Bigger Challenge and a Way Ahead
Whatever happens with this particular battle, the underlying crisis persists.
“Our current system is a profoundly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can fix it.
Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will be impossible forever.
Initiatives that bolster independent news organizations, aid local journalism, subsidize public media, and prevent the consolidation of media power in very few hands are not only possible – they are vital for a functioning democracy.
In the world of media ownership, size does not equal quality. And news organizations such as CNN cannot be pawns in the latest corporate chess match.
