On Thursday evening, amid swirling speculation concerning an incident at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though it is by no means a flawless news source, her words resonated for a lot of people. It remains one of the broadcasters where you can find reality-based and largely trustworthy reporting – notably during fast-moving events like the one taking place near a New Hampshire storage facility.
An Uncertain State Amid a Corporate Struggle
Yet CNN, now four and a half decades old, finds itself in a precarious position as two massive media empires battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has turned into a high-risk game of mergers and acquisitions, instead of as a question of what serves the information-seeking public.
“This represents another instance of the fundamental flaws with origins in decades of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The debate about the future owner of 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 central actors, but there is very little discussion of the public interest,” Pickard said.
A Further Layer: The Former President
The CNN scenario is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” antagonist.
Recall the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. 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 suitor more. For one thing, it is controlled 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 appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Possibility of Further Turmoil
Notably, if Netflix is successful, 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 safe harbor. That arrangement could pave the way for CNN for yet another acquisition. It never ends.
In the view of Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Core Issue and a Potential Solution
Whatever happens regarding CNN, the bigger problem endures.
“The present media landscape is a profoundly system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can address it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Change is highly improbable now, but that doesn’t mean it will be impossible forever.
Policies that strengthen independent news organizations, bolster local journalism, fund public media, and prohibit the concentration of media power in a handful of hands are within reach – they are essential for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations such as CNN must not be pieces in the most recent merger game.
