Late Thursday, as rumors swirled regarding the Brown University gunman, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
While CNN is certainly not a impeccable news source, her words resonated for numerous observers. It is one of the broadcasters where there exists grounded and generally dependable reporting – notably during breaking news situations such as the one developing close to a New Hampshire storage facility.
A Vulnerable Situation During a Business Tug-of-War
However the news network, now middle-aged, finds itself in a precarious position as two massive media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has become part of a high-risk game of mergers and acquisitions, instead of as a question of what benefits the news-consuming public.
“Here is one more case of the deep structural problems with roots in many years of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“It is often framed as a corporate drama with key players as the central actors, but there is hardly any discussion of the societal benefit,” Pickard explained.
The Additional Element: Donald Trump
This situation is complicated 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 his rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now asserts that CNN needs 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 suitor more. For one thing, it is led 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 placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of Continued Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be carved out into a separate entity. This might be a relief to many at the network, but it’s hardly a safe harbor. That structure could pave the way for CNN for a future sale. The cycle continues.
In the view of Timothy Wu, a lot of this is against the law, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.
“Each proposed deal would be bad for the country, and both should be opposed by the government,” Wu recently wrote.
The Fundamental Challenge and a Way Ahead
No matter the outcome regarding CNN, the bigger problem persists.
“What we have now is a profoundly structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can fix it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that is not to say it will never happen.
Policies that strengthen independent news organizations, aid local journalism, finance public media, and outlaw the concentration of media power in a handful of 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 pieces in the newest acquisition battle.
