This past Thursday night, amid swirling speculation regarding a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Although it is by no means a impeccable news source, her message seemed accurate for numerous observers. It stands as one of the outlets where you can find grounded and mostly trustworthy reporting – especially during crises such as the one taking place near a New Hampshire storage facility.
An Uncertain State Amid a High-Stakes Struggle
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 parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has become part of a major game of mergers and acquisitions, rather than as a question of what benefits the news-consuming public.
“Here is one more case of the fundamental flaws with origins in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a corporate drama with influential figures as the main characters, but there is very little discussion of the societal benefit,” Pickard added.
The Additional Layer: Political Influence
This situation is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Think back to the chants 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 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 come down on the side of Paramount Skydance, which has made a unsolicited offer.
Trump has reason to like that bidder more. For one thing, it is led 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, famous for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Possibility of Further Uncertainty
It is important to note, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. This might be a welcome development to many at the network, but it’s hardly a secure position. That setup could pave the way for CNN for another sale. It never ends.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by anti-trust authorities,” Wu stated.
The Fundamental Challenge and a Way Ahead
Whatever happens with this particular battle, the larger issue endures.
“The present media landscape is a profoundly system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Government actions – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can address it.
Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Change is highly improbable now, but that doesn’t mean it will be impossible forever.
Measures that bolster independent news organizations, aid local journalism, finance public media, and outlaw the consolidation of media power in a handful of hands are within reach – they are vital for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN must not be tools in the latest corporate chess match.
