This past Thursday night, as rumors swirled regarding a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and pointing viewers to her channel's 9pm newscast.
Although it is by no means a impeccable news source, her message resonated for numerous observers. It remains one of the organizations where there exists fact-based and mostly trustworthy reporting – especially during fast-moving events such as the one unfolding near a New Hampshire storage facility.
An Uncertain Situation Amid a Corporate Tug-of-War
Yet the news network, now four and a half decades old, finds itself in a uncertain position as two giant media empires vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a high-risk game of corporate ownership, not as a question of what serves the information-seeking public.
“Here is one more case of the fundamental flaws with origins in decades of regulatory actions,” 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 – is it going to be Netflix or Paramount Skydance? – overlooks a more important point.
“It is often framed as a business story with powerful individuals as the protagonists, but there is very little discussion of the public interest,” Pickard added.
The Additional Factor: Political Influence
The network's predicament is made more complex by Donald Trump’s opinions about a network he has consistently labeled as perhaps his main “fake news” antagonist.
Remember the chants of “CNN sucks!” at the president’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 the network requires new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is part of why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to prefer that bidder more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently installed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Future of Continued Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a relief to many at the network, but it’s not exactly a secure position. That structure could pave the way for CNN for another sale. There is no finish line.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that competition laws should disallow both deals.
“Either merger would be bad for the country, and both should be contested by regulators,” Wu stated.
The Bigger Problem and a Way Ahead
No matter the outcome in this situation, the larger issue persists.
“What we have now is a highly anti-democratic system, but we must resist the belief that change is impossible,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new policy decisions can tackle it.
Can reform occur in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will not happen in the future.
Measures that support independent news organizations, bolster local journalism, subsidize public media, and prohibit the concentration of media power in too few hands are within reach – they are necessary for a robust democracy.
When it comes to media ownership, size does not equal quality. And news organizations such as CNN shouldn’t be pawns in the newest corporate chess match.
