Late Thursday, amid swirling speculation regarding a shooting at Brown University, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
While it is by no means a impeccable news source, her message rang true for a lot of people. It is one of the outlets where one can locate reality-based and mostly reliable reporting – notably during crises like the one unfolding near a New Hampshire storage facility.
A Precarious Position During a Business Battle
Yet the news network, now four and a half decades old, finds itself in a uncertain state as two giant media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a major game of mergers and acquisitions, rather than as a question of what serves the information-seeking public.
“This represents another instance of the fundamental flaws with roots in many years of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“It gets presented as a business story with powerful individuals as the main characters, but there is hardly any discussion of the public interest,” Pickard explained.
A Further Layer: Donald Trump
The network's predicament is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” adversary.
Think back to the chants of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will protect him from negative coverage and examination. That is a factor in why he appears to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to favor that suitor more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of Further Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. That would be a relief to many at the network, but it’s far from a secure position. That structure could position CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, a great deal of this is illegal, anyway. The well-known analyst of big tech’s dominance stated that competition laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be contested by regulators,” Wu argued.
The Fundamental Problem and a Path Forward
Regardless of the resolution regarding CNN, the larger issue remains.
“What we have now is a profoundly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Government actions – originating in the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can tackle it.
Will that happen in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Overhaul is very unlikely now, but that should not imply it will be impossible forever.
Measures that strengthen independent news organizations, bolster local journalism, fund public media, and prohibit the concentration of media power in too few hands are not only possible – they are necessary for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be tools in the newest acquisition battle.
