Late Thursday, as rumors swirled regarding a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Although CNN is certainly not a flawless news source, her message resonated for numerous observers. It stands as one of the broadcasters where one can locate reality-based and generally dependable reporting – particularly during crises such as the one taking place close to a New Hampshire storage facility.
A Precarious State During a Business Tug-of-War
But CNN, now middle-aged, finds itself in a vulnerable position as two huge media corporations battle over 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, not as a question of what benefits the news-consuming public.
“Here is one more case of the deep structural problems with origins in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The debate about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a corporate drama with powerful individuals as the protagonists, but there is hardly any discussion of the societal benefit,” Pickard said.
The Additional Layer: Political Influence
The network's predicament is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” foe.
Think back to the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is part of why he seems to favor Paramount Skydance, which has made a unsolicited offer.
Trump has reason to favor that suitor more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Possibility of More Turmoil
It is important to note, if Netflix prevails, CNN and other cable outlets would first be separated into a separate entity. Such a move could be a relief to many at the network, but it’s not exactly a guarantee of stability. That setup could set up CNN for a future sale. The cycle continues.
In the view of Timothy Wu, much of this is against the law, anyway. The well-known analyst 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 opposed by anti-trust authorities,” Wu recently wrote.
The Fundamental Challenge and a Potential Solution
Regardless of the resolution in this situation, the larger issue remains.
“The present media landscape is a profoundly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Policy decisions – from the 1930s and 1940s – helped to create this profit-obsessed monster, and different 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 a distant prospect now, but that is not to say it will be impossible forever.
Policies that strengthen independent news organizations, bolster local journalism, finance public media, and prevent the accumulation of media power in a handful of hands are within reach – they are necessary for a healthy democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN shouldn’t be pieces in the most recent corporate chess match.
