This past Thursday night, as rumors swirled regarding an incident at Brown University, the network's Kaitlan Collins used social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
While it is by no means a impeccable news source, her words resonated for numerous observers. It stands as one of the broadcasters where one can locate reality-based and generally reliable reporting – notably during fast-moving events like the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain State Amid a High-Stakes Tug-of-War
But CNN, now 45 years old, finds itself in a uncertain situation as two massive media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a high-risk game of business acquisition, not as a question of what helps the news-consuming public.
“This is yet another example of the fundamental flaws 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 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 influential figures as the central actors, but there is hardly any discussion of the societal benefit,” Pickard said.
The Additional Element: Political Influence
The network's predicament is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” adversary.
Think back to the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now says that the network requires new ownership. You can read that as ownership that will shield him from journalistic oversight. That is part of why he appears to favor Paramount Skydance, which has made a hostile bid.
Trump has reason to favor that bidder 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, known for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Future of More Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. That would be a welcome development to many at the network, but it’s not exactly a safe harbor. That arrangement could pave the way for CNN for a future sale. It never ends.
According to Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by regulators,” Wu stated.
The Bigger Problem and a Potential Solution
Regardless of the resolution in this situation, the larger issue persists.
“What we have now is a highly structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can address it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will never happen.
Policies that bolster independent news organizations, aid local journalism, fund public media, and outlaw the concentration of media power in too few hands are achievable – they are essential for a robust democracy.
Regarding media ownership, bigger isn’t better. And news organizations such as CNN cannot be pieces in the latest acquisition battle.
