This past Thursday night, amid swirling speculation regarding an incident at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and guiding the public to her channel's 9pm newscast.
Although CNN is certainly not a impeccable news source, her statement seemed accurate for numerous observers. It stands as one of the outlets where there exists reality-based and largely trustworthy reporting – notably during breaking news situations such as the one developing close to a New Hampshire storage facility.
A Precarious Situation During a Corporate Struggle
However CNN, now 45 years old, finds itself in a uncertain position as two huge media conglomerates battle over 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 helps the news-consuming public.
“This is yet another example of the fundamental flaws with origins in decades of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a corporate drama with key players as the central actors, but there is scant discussion of the common good,” Pickard said.
A Further Factor: The Former President
This situation is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” adversary.
Recall the shouts of “CNN sucks!” at the president’s rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. You can read that as ownership that will protect him from criticism and scrutiny. That is part of why he appears to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to like that company more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of Continued Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. That would be a relief to many at the network, but it’s far from a guarantee of stability. That structure could set up CNN for yet another acquisition. It never ends.
If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that competition laws should disallow both deals.
“Either merger would be bad for the country, and both should be contested by the government,” Wu stated.
The Fundamental Challenge and a Potential Solution
No matter the outcome regarding CNN, the larger issue remains.
“The present media landscape is a highly 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 create this hyper-commercialized monster, and revised policy decisions can tackle it.
Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that is not to say it will be impossible forever.
Initiatives that support independent news organizations, bolster local journalism, finance public media, and prohibit the concentration of media power in too few hands are achievable – they are essential for a robust democracy.
In the world of media ownership, bigger isn’t better. And news organizations including CNN cannot be tools in the most recent corporate chess match.
