Late Thursday, amid swirling speculation concerning a shooting at Brown University, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Although CNN is certainly not a flawless news source, her words resonated to many. It stands as one of the organizations where you can find fact-based and generally reliable reporting – especially during fast-moving events like the one taking place close to a New Hampshire storage facility.
A Vulnerable State During a High-Stakes Tug-of-War
But CNN, now middle-aged, finds itself in a uncertain state as two huge media empires compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has been drawn into a major game of mergers and acquisitions, not as a question of what serves the news-consuming public.
“This represents another instance of the fundamental flaws with roots in many years of governmental choices,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The debate about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a corporate drama with influential figures as the main characters, but there is very little discussion of the societal benefit,” Pickard said.
The Additional Element: Donald Trump
The CNN scenario is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” adversary.
Recall the chants of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now asserts that CNN needs new ownership. You can read that as ownership that will shield him from criticism and scrutiny. That is one reason why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.
Trump has reason to favor that suitor more. For one thing, it is led by David Ellison, son of the pro-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 venerable news network.
An Outcome of Further Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. This might be a relief to many at the network, but it’s hardly a guarantee of stability. That structure could pave the way for CNN for a future sale. There is no finish line.
According to Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance stated that competition laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by anti-trust authorities,” Wu recently wrote.
The Bigger Challenge and a Way Ahead
Regardless of the resolution with this particular battle, the bigger problem remains.
“What we have now is a very anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised policy decisions can address it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will be impossible forever.
Initiatives that strengthen independent news organizations, bolster local journalism, finance public media, and outlaw the concentration of media power in very few hands are not only possible – they are necessary for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations such as CNN cannot be tools in the newest merger game.
