Late Thursday, as rumors swirled about the Brown University gunman, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Even though it is by no means a perfect news source, her statement resonated for numerous observers. It is one of the organizations where there exists fact-based and largely dependable reporting – especially during fast-moving events such as the one developing near a New Hampshire storage facility.
A Precarious State Amid a Corporate Battle
But the news network, now four and a half decades old, finds itself in a vulnerable position as two giant media empires battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a high-stakes game of business acquisition, not as a question of what serves the news-consuming public.
“This is yet another example of the fundamental flaws with roots in many years of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a financial tale with key players as the main characters, but there is hardly any discussion of the common good,” Pickard said.
The Complicating Factor: Donald Trump
This situation is made more complex by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” adversary.
Remember the chants of “CNN sucks!” at Trump's rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is part of why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
There is a basis to favor that bidder more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Future of More Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. That would be a relief to many at the network, but it’s far from a safe harbor. That arrangement could set up CNN for a future sale. There is no finish line.
According to Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Either merger would be bad for the country, and both should be challenged by regulators,” Wu recently wrote.
The Core Problem and a Way Ahead
Whatever happens in this situation, the underlying crisis endures.
“What we have now is a profoundly anti-democratic system, but we ought not succumb to learned helplessness,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and different policy decisions can tackle it.
Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is highly improbable now, but that doesn’t mean it will never happen.
Initiatives that strengthen independent news organizations, aid local journalism, subsidize public media, and prohibit the consolidation of media power in a handful of hands are within reach – they are essential for a functioning democracy.
In the world of media ownership, larger is not superior. And news organizations such as CNN must not be pieces in the newest acquisition battle.
