Late Thursday, amid swirling speculation regarding an incident at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
Although it is by no means a flawless news source, her statement rang true for a lot of people. It is one of the outlets where one can locate reality-based and largely trustworthy reporting – especially during fast-moving events like the one unfolding in the vicinity of a New Hampshire storage facility.
An Uncertain State During a High-Stakes Battle
But the news network, now middle-aged, finds itself in a vulnerable situation as two giant media corporations vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has been drawn into a high-risk game of mergers and acquisitions, instead of as a question of what serves the information-seeking public.
“This is yet another example of the deep structural problems with roots in many years of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It is often framed as a financial tale with key players as the protagonists, but there is very little discussion of the common good,” Pickard said.
The Additional Layer: Political Influence
This situation is made more complex by Donald Trump’s opinions about a network he has consistently labeled as perhaps his main “fake news” adversary.
Remember the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is one reason why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor that bidder 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, parent of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that venerable news network.
An Outcome of More Instability
Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a welcome development to many at the network, but it’s hardly a secure position. That arrangement could pave the way for CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should block both deals.
“Either merger would be detrimental to the country, and both should be contested by regulators,” Wu argued.
The Core Problem and a Way Ahead
No matter the outcome in this situation, the larger issue persists.
“Our current system is a very anti-democratic system, but we ought not succumb to learned helplessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can tackle it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that doesn’t mean it will be impossible forever.
Measures that strengthen independent news organizations, reinforce local journalism, fund public media, and prevent the concentration of media power in a handful of hands are within reach – they are vital for a robust democracy.
When it comes to media ownership, bigger isn’t better. And news organizations including CNN must not be pawns in the most recent corporate chess match.
