This past Thursday night, amid swirling speculation about the Brown University gunman, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Even though CNN is certainly not a impeccable news source, her message rang true for numerous observers. It stands as one of the organizations where there exists fact-based and generally trustworthy reporting – particularly during breaking news situations like the one taking place close to a New Hampshire storage facility.
A Precarious Position Amid a Business Struggle
However the news network, now 45 years old, finds itself in a uncertain state as two massive media empires compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a major game of corporate ownership, not as a question of what serves the information-seeking public.
“This is yet another example of the profound systemic issues with origins in many years of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It gets presented as a financial tale with influential figures as the protagonists, but there is scant discussion of the public interest,” Pickard explained.
A Further Element: Political Influence
This situation is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” foe.
Remember the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is part of why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to prefer that suitor more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of More Instability
Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. That would be a welcome development to many at the network, but it’s far from a safe harbor. That arrangement could set up CNN for another sale. It never ends.
If you ask Timothy Wu, a lot of this is illegal, anyway. The influential voice of big tech’s dominance stated that competition laws should block both deals.
“Each proposed deal would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu argued.
The Bigger Issue and a Path Forward
Regardless of the resolution with this particular battle, the bigger problem remains.
“Our current system is a very anti-democratic system, but we must resist the belief that change is impossible,” Pickard emphasized. Government actions – originating in the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can fix it.
Can reform occur in an era where the top communications regulator will not confirm that the agency is independent? Change is highly improbable now, but that should not imply it will not happen in the future.
Measures that bolster independent news organizations, bolster local journalism, fund public media, and prohibit the accumulation of media power in too few hands are within reach – they are essential for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN must not be pawns in the latest corporate chess match.
