Late Thursday, as rumors swirled regarding the Brown University gunman, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
While it is by no means a impeccable news source, her words rang true to many. It is one of the organizations where you can find reality-based and mostly trustworthy reporting – notably during crises like the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable Position Amid a Business Tug-of-War
Yet the news network, now four and a half decades old, finds itself in a precarious situation as two massive media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has been drawn into a high-stakes game of mergers and acquisitions, rather than as a question of what serves the information-seeking public.
“This is yet another example of the fundamental flaws with roots in decades of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It gets presented as a business story with powerful individuals as the protagonists, but there is hardly any discussion of the common good,” Pickard added.
A Further Layer: The Former President
This situation is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” antagonist.
Recall the shouts of “CNN sucks!” at the president’s rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is one reason why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds 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, parent of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Future of Further Uncertainty
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a separate entity. This might be a relief to many at the network, but it’s not exactly a secure position. That setup could pave the way for CNN for a future sale. It never ends.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that competition laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be challenged by the government,” Wu argued.
The Bigger Problem and a Path Forward
No matter the outcome in this situation, the bigger problem remains.
“What we have now is a highly structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can tackle it.
Can reform occur in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that should not imply it will be impossible forever.
Measures that strengthen independent news organizations, reinforce local journalism, fund public media, and outlaw the accumulation of media power in a handful of hands are achievable – they are necessary for a robust democracy.
Regarding media ownership, size does not equal quality. And news organizations including CNN shouldn’t be pieces in the latest merger game.
