Late Thursday, amid swirling speculation concerning an incident at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Although the network is hardly a flawless news source, her statement resonated for numerous observers. It remains one of the outlets where one can locate grounded and mostly dependable reporting – particularly during crises such as the one developing close to a New Hampshire storage facility.
A Vulnerable Position Amid a Corporate Struggle
However the news network, now 45 years old, finds itself in a uncertain situation as two giant media empires battle over ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has turned into a major game of mergers and acquisitions, not as a question of what benefits the news-consuming public.
“Here is one more case of the profound systemic issues with roots in many years of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It is often framed as a business story with influential figures as the central actors, but there is scant discussion of the public interest,” Pickard said.
The Additional Layer: Donald Trump
This situation is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” foe.
Recall the shouts of “CNN sucks!” at the president’s rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is part of why he seems to favor Paramount Skydance, which has made a hostile bid.
There is a basis to prefer that suitor more. For one thing, it is led 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 placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Future of More Uncertainty
Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a separate entity. Such a move could be a welcome development to many at the network, but it’s not exactly a secure position. 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 against the law, anyway. The influential voice of big tech’s dominance recently argued that competition laws should disallow both deals.
“Each proposed deal would be harmful to the country, and both should be contested by the government,” Wu argued.
The Fundamental Problem and a Path Forward
Whatever happens in this situation, the underlying crisis endures.
“Our current system is a very anti-democratic system, but we shouldn’t give in to learned helplessness,” Pickard said. Policy decisions – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can address it.
Will that happen in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will never happen.
Initiatives that support independent news organizations, aid local journalism, fund public media, and prevent the consolidation of media power in very few hands are within reach – they are necessary for a functioning democracy.
Regarding media ownership, size does not equal quality. And news organizations like CNN shouldn’t be pieces in the newest corporate chess match.
