This past Thursday night, while unconfirmed reports spread about the Brown University gunman, CNN’s Kaitlan Collins posted on social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Even though the network is hardly a perfect news source, her statement seemed accurate to many. It remains one of the outlets where there exists grounded and generally reliable reporting – particularly during crises such as the one developing near a New Hampshire storage facility.
A Precarious Position During a Business Battle
But the news network, now middle-aged, finds itself in a uncertain state as two massive media empires vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has turned into a high-risk game of business acquisition, rather than as a question of what helps the news-consuming public.
“This is yet another example of the deep structural problems with roots in many years of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The debate about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a financial tale with powerful individuals as the central actors, but there is scant discussion of the common good,” Pickard explained.
The Additional Element: Donald Trump
This situation is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” antagonist.
Remember the chants of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. That is part of why he seems to support 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 Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Possibility of More Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a separate entity. This might be a relief to many at the network, but it’s not exactly a safe harbor. That setup could set up CNN for a future sale. The cycle continues.
If you ask Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance stated that competition laws should disallow both deals.
“Either merger would be detrimental to the country, and both should be challenged by the government,” Wu stated.
The Core Problem and a Way Ahead
Regardless of the resolution in this situation, the underlying crisis endures.
“The present media landscape is a profoundly structure that undermines democracy, but we ought not succumb to learned helplessness,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can tackle it.
Can reform occur in an era where the top communications regulator will not confirm that the agency is independent? Reform is highly improbable now, but that should not imply it will be impossible forever.
Measures that strengthen independent news organizations, bolster local journalism, fund public media, and prevent the concentration of media power in very few hands are within reach – they are essential for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN shouldn’t be pieces in the latest acquisition battle.
