Late Thursday, amid swirling speculation about a shooting at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
While the network is hardly a perfect news source, her statement rang true for numerous observers. It remains one of the outlets where you can find reality-based and largely trustworthy reporting – especially during breaking news situations such as the one developing near a New Hampshire storage facility.
An Uncertain State During a Business Struggle
But the news network, now 45 years old, finds itself in a vulnerable state as two giant media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has become part of a high-risk game of business acquisition, instead of as a question of what serves the information-seeking public.
“This represents another instance of the deep structural problems with roots in decades of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The debate about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a more important point.
“It gets presented as a financial tale with influential figures as the central actors, but there is very little discussion of the common good,” Pickard added.
A Further Element: Donald Trump
This situation is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” foe.
Remember the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will shield him from negative coverage and examination. That is a factor in why he appears to favor Paramount Skydance, which has made a unsolicited offer.
He has grounds to like that suitor more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Future of Further Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. This might be a welcome development to many at the network, but it’s far from a secure position. That arrangement could set up CNN for another sale. The cycle continues.
If you ask Timothy Wu, a lot of this is against the law, anyway. The influential voice of big tech’s dominance stated that competition laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by regulators,” Wu recently wrote.
The Bigger Challenge and a Potential Solution
Regardless of the resolution regarding CNN, the bigger problem persists.
“The present media landscape is a very system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can address it.
Can reform occur in an era where the head of the FCC will not confirm that the agency is independent? Change is a distant prospect now, but that is not to say it will never happen.
Initiatives that support independent news organizations, aid local journalism, fund public media, and prohibit the accumulation of media power in very few hands are achievable – they are essential for a functioning democracy.
Regarding media ownership, bigger isn’t better. And news organizations including CNN cannot be pawns in the latest corporate chess match.
